Market Update

by 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.

Quick Morning Update - Market Analysis for Oct 30th, 2026

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by Avi Gilburt - 10 hours ago

Not Many Good Choices

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by Avi Gilburt - 1 day ago

Metals Testing Resistance Too

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by Avi Gilburt - 2 days ago

Local Top Taking Shape, but Deeper Decline Still Needs Confirmation

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by Mike Golembesky - 2 days ago

Pushing On Resistance - Market Analysis for Oct 27th, 2026

As I write this update, the SPX is certainly pushing on the top of our resistance box. And, if you remember, I am maintaining the primary count of the 1-2 to the downside as long as the market does not break out through the resistance box in a sustained manner.But, I also warned that this market has not been kind to short traders. That is why it is wise to wait for the market to provide to us a 5-wave decline to fill in wave i of wave 3 before making the assumption that the heart of a 3rd wave down in the yellow c-wave of wave ii is likely in progress.

by Avi Gilburt - 3 days ago

Expected Rally Seen, Do We Turn Down Now?

In my weekend update, I outlined my reasonable expectation for a rally to be seen this week, which should provide us with a 1-2 downside structure in our primary wave count. As I write this update, we have struck our wave 2 target/resistance box.The question now is if we begin another smaller degree 5-wave structure to fill in wave i of wave 3 (as outlined on the 5-minute SPX chart), or does the market push a bit higher into the resistance box?Well, I can make out a small 5-wave decline off today’s high. So, there is some potential for the wave i of 3 decline to have begun.

by Avi Gilburt - 4 days ago

Market's Direct Push Lower Opens the Door to a Bottom Forming

Yesterday, the market gave us a relatively clean five-wave move to the downside off of the highs that were struck in the morning. After that initial five-wave move, we should have seen a corrective retrace higher to confirm that we were indeed dealing with an initial five-wave move down, thus setting up further follow-through in the form of the third wave down.Overnight and today, we saw the market continue to grind lower after seeing a very shallow retracement, which, rather than confirming the initial five-wave move, made that initial move much more ambiguous. Furthermore, the entire move down off of yesterday's high is now approaching the ideal target region for a standard ABC move off of the 10/6 high.

by Mike Golembesky - 1 week ago

Market Is Setting Up For Lower Levels

Today we saw the market move lower, breaking through all of our smaller-degree support levels, which were keeping the path to new highs per the blue count in play. With the move lower today, we now clearly have three waves up off of the 10/16 low, which is making a push to new highs per the blue count unlikely at this point in time and is far more suggestive that we will see further downside follow-through before any lasting bottom is found. So while ideally we see a retrace higher before a sustained break lower, with what can count as five down off of yesterday's high, the odds of seeing lower levels ahead are much more likely.

by Mike Golembesky - 1 week ago

Quick Morning Update - Market Analysis for Oct 22nd, 2026

I want to point out this morning that we now have the MINIMUM number of waves in place to consider this BIG correction complete in gold, as we have a minimum needed for wave (5). Ideally, it does go to 4000 or a bit lower, but be aware it can bottom at any time from now.

by Avi Gilburt - 1 week ago

Nothing Strongly Bullish YET

As I am starting to write this update a few minutes after midnight, I am seeing the metals attempting to break down in what I believe is the final push to the completion of this correction which began 10 months ago.Starting with gold, as you can see on the attached 13-minute chart, we are pressing against the pivot, which if broken, will likely then become resistance. At this point, I think the ideal target should take us just below 4000, but it can extend as deep as the 3800 region depending on how this progresses.While silver may have begun its drop to the 53.

by Avi Gilburt - 1 week ago

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