US and UK economies are falling apart

Really bad (but good for us bears) manufacturing data from the US (and from UK earlier), and stocks sold off heavily and the Dow has broken the back of my support line:

This is a true third wave down, as I suspected, and where will it bounce from?  The 62% retrace is nearby so this may be the support area.  But if not, it is down to the Fib 78% level at around 15,150.

And gold has rocketed away from the tramline kiss and is now in a Scalded Cat Bounce up:

I believe my major target in the $1300 area is within reach.

This is the time to make hay.