The overlap and in the Waves and the 47% retracement makes this more clearly a Minute (Leading Diagonal) Wave [i] and [ii] today. Wave [i] bounced off the hourly Cycle Bottom support at 1988.39 and completed what appears to be a 5-wave sub-Minute Wave (c) of Minute Wave [ii] at the close.

Tomorrow we may see a lesser degree iteration of sub-Minute Waves (i)-(ii), to start off Wave [iii] of3.

Gold made a healthy decline today and appears to have closed above mid-Cycle suport at 1250.40. A thiird wave should make short shrift of that support. We’ll find out more in the morning. I remain bearish on gold.

Regards,

Tony

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