Elliott wave analysis on EUR/USD; S&P 500; Gold and Crude Oil

EUR/USD - Rally through all short term resistance point. I still expect we have seen a top at 139.14. The decline to 136.51 was wave i and if my count is correct we are working on wave ii. This wave ii should ideally meet strong short term resistance at the red Pitchfork near 138.45. Actrually wave ii normally overshoots the Pitchfork resistance line slightly, before turning down again. To confirm, that we have seen a peak in wave ii we need a break below 137.81. While support at 137.81 isn't broken to the downside, the risk is one more move towards the resistance-area between 139.14 - 139.30.

S&P 500 - Support at 1,190.80 was never broken, which keep the rally from 1,074.77 intact and reinforced the possibility of a move towards 1,231 (we saw a high of 1,232.84).

I do think the rally is overdone and caution is waranted towards the upside, but is't still only a break below support at 1,190.80, which confirms the top for a decline towards 1,167.50 and possibly even 1,149.80.

Gold - We have seen a clear break below 1,652.69, which should warant more downside to come. I'm now looking for a break below support at 1,629.06, which should open for further decline towards 1,589 and possibly even closer to 1,530, where we find strong support.

Crude Oil - The rally back above 88.17 has change the short term picture. We are now looking at an ending diagonal, which should see us down to the 86.82 - 87.22 area from where we should see one last rally higher closer to resistance at 90.05 (we might peak just below or slightly above the 90.05 resistance...) before down again.