S&P 500 Index and XAU/USD, Spot Gold ($US/Oz)

The S&P 500 has produced a Cycle of 5 Primary waves since 2009. The concept of a Super-cycle completion at IV is relaxed to enable the idea of a larger Super-cycle pattern to be examined. A completion of the pattern appears to be happening. There is the alignment of the apparent Intermediate 4th wave (4) of the 5th Primary wave [5] with the end of the preceding Minor 4th wave.  If the upcoming Super-cycle order correction follows typical Elliott theory guidelines then it will also target the end of the 4th wave of one lower order. This would be Cycle wave IV.

This 30 minute chart for the Intermediate 5th wave sees that the completion is feasible.

The next chart is with monthly data and looks at the Cycles for XAU/USD. It sees that the 5th Cycle since 1971 is underway. 

The next chart is with daily data and looks more closely at the last 2 Cycles.

The next chart has hourly data which looks into Intermediate wave (3). It sees that Minor wave 1 has completed. The following annotations are tentative and require further confirmation.  

Like all of the charts that I post, this pattern analysis employs the standard version of the Elliott Wave Theory and is intended only to demonstrate my own momentary view within my own application of that theory.