Update

S&P 500
The cycle mentioned in previous posts is due Monday that may bring a short term top. However a higher high is looking more likely for mid August as a new cycle has been identified that is more likely to bring a high then a low at that time. A mid August high would then be followed by a decline into the late August cycle mentioned previously. Wave counts are shown below.


Gold
Gold is still on track for a test of the early June high. It may make a short term top along with the S&P 500 Monday but this would likely be a B wave followed by a C wave up that would bring the test of the June high.