Market Update

by Avi Gilburt

Avi Gilburt

This page features Avi Gilburt's nightly analysis of the S&P 500. Articles are made available on this public page 72 hours after posted live for subscribers to Avi's Flagship and Nightly services. For Avi's complete coverage, which includes analysis of the S&P 500, Metals (GDX, GLD, YI), Oil (USO), and US Dollar, plus a wide range of market coverage by our analyst team and a live member discussion forum, please login.

Slowly Leaking Lower - Market Analysis for Aug 6th, 2026

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by Avi Gilburt - 1 hour ago

Market Consolidates Over Support

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by Mike Golembesky - 1 day ago

Getting More Interesting - Market Analysis for Aug 5th, 2026

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by Avi Gilburt - 1 day ago

Bulls Are Seemingly Back In Control

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by Avi Gilburt - 2 days ago

Explaining The Analysis - Market Analysis for Aug 3rd, 2026

Some of you are questioning why the 7580SPX level was so important to my analysis, and why a break of that region – even by a point – was so key in my work.Well, first, one of the structures we were tracking was a i-ii downside set up. However, that set up fully invalidates when the market moves even one penny beyond the start of wave i. You see, that is one of the few rules that are set in stone in Elliott Wave analysis. A 2nd wave can never retrace more than the start of wave i, at which time, the structure invalidates.
by Avi Gilburt - 3 days ago

Morning Update - Market Analysis for Aug 3rd, 2026

As we just broke the 7580SPX resistance region, we have no bearish set ups in place any more.  But, I still want to address how I am now approaching this region.First, the misgivings that I have with the yellow count do not go away.  But, needless to say, taking out 7580SPX has caused the probability for the bullish potential to increase.  Yet, I still have many questions about its potential due to the issues I have outlined in the past few weeks.
by Avi Gilburt - 3 days ago

I Have To Remain Objective

Despite all the issues I have outlined with the yellow count over these last several weeks, we have seen something today that is forcing me to be tracking it on the chart a bit more closely now.With the rally in the futures off the overnight low, I can now count a 5-wave structure but ONLY AS A LEADING DIAGONAL, which I do not view as highly trustworthy in and of itself. In other words, while there is some potential that this is a 5-wave rally, I think it is quite reasonable to also view this as a 3-wave rally.
by Avi Gilburt - 1 week ago

Potential Break of Triangle

I am sending this update out due to the action we saw last night, wherein the futures seem to have invalidated the triangle count.  However, while the futures have now invalidated the triangle count, the SPX has not.  But, due to the futures invalidation, I have added the ending diagonal count to the 60-minute SPX chart, as that is starting to look a bit more likely with the futures invalidation.What this chart now shows is that 7480SPX is our resistance.  That is what I would view as the wave ii in this ending diagonal.  That now places this bounce in the overnight action as the b-wave in wave iii, with the wave iii target being the 1.
by Avi Gilburt - 1 week ago

Sure Looks Like A Triangle

Unfortunately, there has been nothing to really move the needle in metals, as we have been going sideways now for the last five weeks. But, the one thing that I can add is that gold looks like an almost completed triangle.As you can see from the attached 60-minute gold chart, we seem to be working on the e-wave of that triangle, which can push higher one more time. So, the parameters seem to be rather clear. A break of 4023 (take note I am on the December contract now) would suggest we are in a 5th wave down.
by Avi Gilburt - 1 week ago

Off To "E" Or Yet Another "ED"

After trading in very sloppy, overlapping corrective wave action over the past several weeks, we saw the market move lower this morning only to jump higher after the FOMC announcement and press conference. The question I now have is whether this sloppy corrective wave action is indeed a larger triangle still needing a push higher to fill out the final wave e of the triangle count, or if we are filling out yet another Ending Diagonal to the downside to finish off the larger wave (c) off of the highs.At this point, both counts are still viable, and the determining factor will be how high this moves in the days ahead before breaking lower once again.
by Mike Golembesky - 1 week ago
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