Elliott Wave View Calling for S&P 500 (SPX) to Extend Higher

Markets Gold grabbed most headlines today. The price of bullion spiked to an all-time high in illiquid Asian dealings of $2130/ounce. The spike didn’t last with gold prices falling back towards Friday’s closing levels near $2060/ounce. The move smells like an exhaustion move after the October/November core bond rally pushed gold prices up by around […]

We have added additional rate cuts at the November and January FOMC meetings to our profile. Our unrevised terminal rate of 3.375% is now seen at end-2025 instead of mid-2026. July’s US employment report unnerved global markets. Growth in nonfarm payrolls slowed to less than half the average of the prior twelve months (including revisions) […]

Key Highlights Gold started a downside correction and traded below $2,350. A connecting bearish trend line is forming with resistance at $2,325 on the 4-hour chart. Oil prices extended losses but remained stable above $80.00. Bitcoin price traded to a new weekly low below $60,000. Gold Price Technical Analysis Gold prices started a downside correction […]