Things are a lot different on the Russell, this is a nice looking impulsive wave, BTW, Copper mirrors this count.
Silver update, much worse then Gold, down over 5%, and $1.58, this is now a mini crash in Silver!!!
8:16, The 15 minute chart now has the Russell breaking down into a wave that looks a lot better for an impulsive sell-off.
7:15, The price action this morning broke the mold a little, with a gap up open, that quickly reversed and moved into negative territory. The bears need this to start impulsing down and making lower lows, the bulls need a corrective sell-off, filled with over-lapping waves. 1259.34 is a key level for the SPX, this is the top of 1st wave of the last set of squiggles, and if the SPX is still in a 4th wave this level cannot be broke, however, if the squiggles for the 5th are completed, this level should be broke quickly. As of now, I am leaning about 60% that this sell-off is corrective.
The big movers this morning are Gold and Silver, both down hard, with Silver taking the biggest hit, down currently 3.34%. Both did signal a sell at the open on the Trendfinder.