(Reposting the Thursday update:)
The SPX is up again today and now right at the neckline of the inverse H&S.
As mentioned a few times already a break above the 1340ish area should lead to a rally to way above 1400.
It looks like wave [i] of 3 will be completed very soon. A mild correction should follow (wave [ii]) before wave [iii] of 3 to 1400+ will unfold.
On Wednesday we got a big upday after a correction. In the past this was usually a sign that a big rally was coming:
EUR/USD
(Reposting the Thursday update:)
(Read my last EUR/USD update here)
As said last weekend the 1.425ish area should be a strong support level.
Early this week the EUR/USD tested the aforementioned level and since then we've seen a huge rally to over 1.46.
As long as we stay within the channel I still expect to see a 1.5x handle later this year.
Gold & Silver
Not much to say here. As written last weekend only a break below the uptrendline would change the medium term picture for gold:
The same with silver. The white medal is approaching the all time high around 50 $. Let's see if we get a correction there or just rally further.
