The yellow bricks made an impulsive move up from 1046 (December 2015), topped at 1375 (July 2016) and is now in a C-wave to complete larger wave 2.
What's interesting is that Gold is imo in the same phase as the Dollar Index. Although it's not that surprising because Gold tells you particulary a lot about the state of the Dollar and fiat.
Gold is at the late stages of wave 3 of larger wave C.
DXY is also at the late stages of wave 3 of larger wave 5 (of wave C). See my DXY chart in the previous post.
So both DXY and Gold need a wave 4 and a wave 5 after which the Dollar should take a proper hit.
