Gold printed a lower low today.
While it is still above the recent daily cycle low, it is running out of wiggle room. A break below the recent low of 1291.70 confirms a failed daily cycle signaling an intermediate cycle decline. Still gold could break above 1375 and begin to regain its bullish posture.
Stocks are also running out of wiggle room.
Stocks printed another lower low today closing below the July peak and nearing the daily cycle trend line. A break below the daily cycle trend line confirms that stocks have entered their daily cycle decline.
As stocks continued lower bonds continued higher.
Bonds broke above the previous daily cycle high today. This is the first time that bonds have printed a higher low and higher high since April. This confirms a new intermediate cycle began with the August daily cycle low. We are likely to see bonds print a right translated daily cycle. The daily bond cycle tends to run 16 – 24 days. Which gives them up to 3 more weeks to find a low.