Good morning from CFT (our video is out!),
We have been showing this red triangle.
We believe we are in an “abc” up for the wave “D’ red.
We could have another pullback below $52,000 before a run at $60,000. Or, we’ve got a little strength this morning, and we could have the run right now.
The ALGO’s are both 2X lev long; we again are looking for further rally up for the wave “D”, then another pullback in a wave “E”, then we should have liftoff to new all-time highs again.
On U.S. stocks,
we have been looking for a top, but it continues to work a little bit higher. But we are still again of the same opinion that somewhere up here, we are going to try to turn lower and work towards lower levels.
On the Dollar,
we had been looking for the market here to turn back up again and look at new highs above 93.50. We had a selloff again on the FED talks Wednesday, but we are having a decent day today, so let’s see if the low we just made there at $90.45 will hold, and we can work above $93.50.
And the same thing on XAU,
we have been short, small profits, and we are looking for the precious metals to continue lower.
Have a good weekend!