#Deflation phase has started. Stocks will plummet in 5 waves down to ~1800 in #SP500. Wave 2 and 4 will be corrections. We have break of 200SMA and trendline from early 2019. I think we see a backtest of these (yellow area?). But - in general trend is down - and fast! 
#EURUSD kissing 50SMA and pot. also 200SMA "Goodbye" - before turning down hard. Next wave will take down to - and likely below bottom from early 2017 - only for a short consolidation before EUR crash continues. LT-target remains ~0.85
#AUDUSD will be in free fall coming months indicating a collapse in inflation expectations. LT-target is <0.5 to be reach some time this year.
#Oil is the main driver of the sharp decline in #Inflation. Current wave should take us down to ~28 USD (with small bounces). LT-Target (AND SECULAR BOTTOM) later this year <20 USD - pot. as low as ~10 USD. #Deflation unfolding
#Copper on the verge of a watershed moment! Outlook for Global economy is really bad! Decline seems to last into late 2021. Long global recession ahead!
#EmergingMarkets look terrible. Correction bounce now done and lower trendline broken. Watershed moment ahead as #Deflation unfolds and #USD soars
#Commodity index looks equally Bearish. Broken lower trendline of Sideways Correction during 2017-2019. Now last wave 5 will unfold in Deflation. Crash before SECULAR BOTTOM!
What scares me the most this morning at the close of the month, is this Monthly Chart for #DeutscheBank. Ugly Monthly Candle which together with the overall Ending Diagonal Structure suggest imminent fast decline towards 0 (zero!). USD Liquidity shortage?? YOU BET!!
In a severe Liquidity Crisis (often first part of a Financial & Economic Crisis), #Gold fulfills its role of providing liquidity. Getting sold to provide USD. The more severe the Liquidity crisis - the harder the sell off. LT-target remains 800-890USD
I set up a target last Summer at 1590ish for the Correction. In February it spiked to 1689 - but closed the Month at 1586. All good to me!! My focus is to short it now - and keep until major secular bottom ~800-890. Then buy Miners and Gold as Stagflation develops coming years
And I can tell you, that when the SECULAR BOTTOM in #Commodities is in - #Gold is not going to take >4 yrs to cross 61.8% Fib. It will be reached in few months - and ATH within first 6-9 months of the rally. This is my focus - and has been for a long time!
What I mean about SECULAR BOTTOMS? These are major turns. Like 1982 for Rates. Very LT-top!! Below is German Yield (10 yr). Following the coming crisis, which will take German Yields <-2.0% we will have secular bottom (=start of Kondratiev's Spring). Requires Monetary Reset!
Remember! Rates are lagging indicators - hence they will bottom AFTER the bottom of the coming crisis - AFTER we have seen GDP start to grow again. Hence, being Long BUNDS and TLT (after ST correction) is absolutely the right thing to do!
