The rally portrayed here I thought it may had been the bottom already, but the fact that the small rally is coming down leaving 3 waves behind makes me think it hasn't bottomed yet.
From the look of it, it seems it's only wave 2 of 5 so we may have to endure a bit more on both EURUSD and S&P500
All relationships are in the graph, so the target is 74.47 on the index, which fits better, since all projections from the bigger degree waves AND the small degree waves point to that area...
Well not really. Still short of 3 points ahahah...
I called for a 50-70% rally back in late February, so do the math 997/666 = 49,69% return...
Now it's time to be cautious.... a turn for good is around the corner, a turn that will put S&P towards 350-400 points...
Silver was flawless... it looks it may have topped as per my last post... It reached the red box and from there it plunged remarkably... we are now sitting at the $13.15 mark.
As for USD it seems we may have bottomed already...as I already said 5th wave could've truncated. The thing is the continuous contract on DXY didn't make a new low, but the contracts for September did indeed make a new low, so this validates it... Also the rally today makes it very hard that to be wave 4 of final 5th. It is just too big and its structure looks indeed it has 5 waves and not 3, as it would be required if that were to be a wave 4.
