GateUser-7b8514c3

#ASX300 might move towards 8800-8870 (current price 8600) before continuing the correction towards ~8025 (first major target) and possibly to the second zone 7570-7810. $XKO

$IEM - MSCI Emerging Markets. A relief rally now before $77s (harmonic target and also 50% retrace of the entire move since the Apr '25 low), and possibly $70-72 (harmonic target and ~70-75% retrace of entire move since Apr '25 low). Current price $83.

#ASX200 update. A close below 8455 and any additional follow through below will add weight to 7800s and 7500s. $XJO

$SPX update. Further confirmation. Working nicely. 5650-5950 the next major area. See prior post and chart below for notes. $SPY $ES #US500

#GOLD update. No change. A big reversal from my 1:4 measured move target. However, I still see 2900s-3400s in scope. This #oil situation is going to force some further liquidations. See prior post for further notes. $XAUUSD $XAU $GLD $GDX

#Bitcoin update. No change. 40-43k in scope. Also a case to be made for 20-30k. Higher confidence 40-43k. $BTC $BTCUSD #BTC #crypto

$AUDUSD update. Unnerving move lower to come (64-65s), risk assets the same. Then a potential move to 76-78 $AUD $DXY

More confluence - measured move - $165. $CL #crudeoil #WTI #OOTT

$CL - #crudeoil market is setting up a monthly close that will position it for north of 160 as the next target. If this isn't alarming enough, this setup could also be the foundations for 250. One step at a time. $USO $WTI #oil #usoil #oott #energy #commodities

Looking at $XAUUSD against the $SPX - there is room for a correction here, but two consecutive monthly closes above the prior pivot high and a shape like this suggests to me #GOLD will outperform equities post this correction. $XAU $GOLD $GLD #US500 $SPY

#GOLD update. The longer-term view suggests we are in a wave 4 correction, and given wave 2 was shallow and elongated, wave 4 might be sharper and deeper. A 4:1 measured move suggests a major target has been reached south of 4100, however I don't think it is out of the woods.

$SPX update. Some more detail behind the previous post. 2 breaks of structure - suggesting the trend is weakening and a more meaningful correction could be under way. Notes on chart. $ES #US500 $SPY

#GOLD update. Since the 1630 low printed in '22, there has been higher highs and higher lows. This is a major correction, but it hasn't broken structure, yet. To break structure it would need to break below 4402. The next major pivot below that is 3886. $XAUUSD $GLD $XAU $GDX

#ASX200 update. If it closes below 8455 there is a strong case to be made for 7700-7800. $XJO #ASX

$SPX update. A close below 6580 and the case for ~5940 strengthens. #US500 $SPY $ES