But based the triangle count that we have been tracking, traders should not be surprised by a decisive push higher up in wave v). We see possibility of already completed triangle in wave iv) at $1,308 but because of a slow market we really have to keep an eye on $1,304 level as invalidation point for a triangle. So as long this one holds, we will look to the upside.
Gold 1-hour Elliott Wave Analysis
U.S. stocks are up, no doubt and based on the clear pattern on Nasdaq 100 contract we can assume that uptrend will extend for a minimum one more leg as move from 3880 is unfolding in impulsive fashion. We expect a push up into wave v) that may reach 3970. We would change view if market goes back beneath 3914.
Nasdaq 100 1-hr Elliott Wave Analysis