Yeah, Elliott Waves (while a bit harder to judge on shorter timeframes) are accurate, like they are on long/larger timeframes.
The dollar is turning lower again, which is the “wind to the back” for metals.
If it materially breaches that corrective line, then SLV could be in a wave 3 on the hourly timeframe. If it doesn’t, then we’re still likely in the latter stages of the wave C correction lower and have one more push lower before heading higher. Here are the two scenarios I see.
Yep, good chance the S&P 500 is ready for its next push lower, very, very soon. Agreed.
Yes, it’s fun to count the waves because the more we do it, the better we get at it. Our eyes get trained to seeing them better.