I suspect wave is a triangle, ideally we see a small bounce to complete the triangle to end wave , then we should see new lows for wave to end a larger 5 wave decline from the 2013 highs.
I think it still needs a bit more downside and make a minor new low under 1131, then the bulls can "fill their boots" with the yellow metal, I think it will offer a great buying opportunity
Potentially a completed 5 wave move from the 2009 lows. The1st target is the previous 4th wave at $46.00. The 2nd target is at $38.00. Based on the NDX idea, I would strongly advise anyone long to sell and go to cash, aggressive traders can look to sell. Wave appears to be a possible ending diagonal so a strong clue to support the idea of a 5th wave.
Need a bit more upside to complete a possible ending diagonal on the SPX, the DOW and the NDX have the same idea, once its complete then its time to get aggressive on the short side. AGGRESSIVE SELL SET UP