EUR/USD - We are still working on wave 2. The strong rally from 131.44 is somewhat of a puzzle. That said we are close to strong overhead resistance in the 139.15 - 139.40 area, which is expect will hold for a break below 138.13, which will confirm, that a top is in place for a decline to at least 135.50 and more possible even 133.74.
S&P 500 - Here too the rally has been quite impressive. We haven't broken below important support at 1,084 yet. That said strong resistance is just above at 1,230, which I expect will hold for a break back below 1,211.85 and more importantly 1,191, which confirms that a top is in place for a decline towards at least the 1,150 - 1,152 area.
VIX-Index - The Fractal I have discussed earlier (see the links below:http://theelliottwavesufer.blogspot.com/2011/08/s-500-time-to-take-breather.html and here
http://theelliottwavesufer.blogspot.com/2011/09/vix-index-next-move-into-extrem-fear.html)
has played out almost to perfection. We should see the end of wave h of the parent fractal. within a couple of weeks. That doesn't mean we need to see S&P 500 move much higher. it could just be a sideways consolidation before a break-down.
If this fractal is playing out as the child-fractal did we most likely will see most lower prices in the 1'st quarter of 2012
Gold - We are currently back-testing the upper channel resistance-line of the long term light green channel. As long as support at 1,530 isn't broken to the downside we still could see one more new rally towards a new high above 1,920 is red wave v, however a break below 1,530 will invalidate that possibility and call for a decline towards the 1,030 - 1,043 area.
Crude oil - Is facing strong overhead resistance here near the 87 handle. If this resistance holds for a break below 83.20 will can expect the next decline through support at 75.However a break above 88 will open for a slightly higher rally towards the 90 area before down again.
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