Real time snapshot is below. The model did not exactly capture the future movement of the chart but it did capture the sentiment. The only issue now is that the width of that sideways move begins to smell like a B wave instead of a 2nd wave down. So it is possible that the mid April peak was a leading diagonal into wave 1 or A up and that everything since has been wave 2 pullback. If this is correct then the 38.2 fib should find support. If it doesn't then the odds of the mid April peak being E of 4 go up rapidly IMO.
But if the 38.2 fib provides solid support then guess what, that will be a 3 wave move back to the level of the prior 4th. If that is the case, the C wave could explode upward quickly and in fact I could see this happening if US interest rates begin to take off. Perhaps this chart is telling us that Russia will finally talk about gold backed something or other with China. If so, don't hesitate to get some of this because the percentages can be extreme to the upside after such a hard ass kicking as this has seen.
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