5-wave completed and now 3 wave with C to touch 140 upon completion of zigzag by Sept? Fed and BOJ divergence in policy is going to push USDJPY lower and with hedge fund coming onboard to long yen. The path of least resistance is for USDJPY to weaken.
With Powell giving the confirmation on rate cut in Sept, this gives bullish momentum on gold. Coupled with heightened geopolitical tension over the weekend with Israel and Hamas. Will we see 2575 by midweek? The completion of wave 5. All time high?
Support Levels for SPY Looking at the premise of two of the biggest tail-risk crisis as comparison, it seems a fall of 50%-60% over a 500 day period is a fair comparison. 2020: Coupled with almost two combination of Fear of Coronovirus with the added pain of Oil Prices Plunging and Selling of Longer-dated Treasuries, the selling will be further exacerbated and...