In 1976 Gold was in a 2 year bear market that retraced 50% and then the bull market resumed, with support near the 40 month average. In 2015 Gold completed a 4 year bear market with a 50% retracement and support from the 40 month average. So the Dow/Gold ration too paused at this time to go up for a few years as shown below and now has resumed its downtrend that should mean going to the 1980 lows before the ratio completes its Long gold Short Dow trade.

Taiwan completed a triangle where wave e of B was truncated, meaning it did not touch the upper trendline. But since the next move down appears to have stared we may already be in wave C down now. C=A is at 6300 and that is a long way down. The upper line is at 6820 and staying below that the triangle is picture perfect bearish for this stock market.

Heading to 43$ next. Crude has completed wave 4 or D up and wave 5 or E down has started longer term. It broke the 40dema support and wave iv of lower degree is at 43$ as the next support.

In the Big picture there are periods of rising bonds and falling equities and vice versa. So we have seen that between 2012-2014 when bonds were down and equities were up. Now we are slowly and loudly seeing the reverse, Bonds are rallying to new highs and the Dow is making lower lows.

This month as Copper fell to a new low the rest of the commodities did not. Now the Oil or crude has backed off from 51$ with an inverted hammer pattern on weekly charts I think we mostly have a top in crude and the CRB index. And yes the dollar is still to rise. So why is copper and the rest of the base metals diverging? Well how about a possible wrong wave count. So when we fell from the point marked wave B we were not sure that decline was impulsive and we marked the B on the next top. But if I ignore hourly charts and just focus here there is an explanation. The fall completed a 5 wave decline at the recent low of 2.013 and had not done so earlier. So we are in wave 2 of C up right now. Wave 3 down might not have started yet so we need to see that start before the rest of the commodities start down. Also a copper bull can argue that Copper ended an A-B-C decline at the l.ower end of the falling channel. I think wave 2 up can test the wave iv high at 2.14$ at the most and then may decline. The next two days should give a clear signal for the entire pack.

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