june 30 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021cdnx.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 948.52, closing at 946.79!

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021gdxd.png  

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 33.30, closing at 33.64.

 

We are still working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following last retracement level:

 

78.6% = 32.62.

 

We have now exceeded our 61.8% retracement zone so we are now watching our 78.6% retracement level.

 

We still need to be on guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^, as the GDX is now oversold.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. We are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1750.10.

 

 In the overnight session we have moved sideways currently trading at the 1760.90 level.

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following last retracement level:

 

78.6% = 1725.90.

 

We have now exceeded our 61.8% retracement level so our last retracement level is 78.6%.

 

We still need to be on guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

We broke lower out of our bearish triangle formation that started at the 1797.50 as we have been suggesting for the last couple of days.

 

A rally now above 1786.00 now would likely confirm that the current correction is complete at the 1750.10 low.

 

Note the potential head and shoulders bottom formation on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021si.png  

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 25.58. In the overnight session we have moved higher reaching ahigh of 26.02.

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

 

50% = 26.35

61.8% = 25.74.

 

Sliver has reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

We did break lower out of our bearish triangle formation as we have been suggesting we might over the last couple of days.

 

WE also did reach our minimum objective of 25.58, and now need to see this market rally above the 26.29 high to suggest that the current correction is complete at the 25.58 low.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021bond.png  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.451%!

 

All of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4300.52.

 

In the overnight session the SP500 Futures are down about 2 points.

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and all or most of wave -b- at 4286.12. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021usd.png  

Short Term Update:

 

The USDX was higher in yesterday’s day session reaching a high of 92.20. In the overnight session we have moved sideways currently trading at the 92.14 level!

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle. For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun3021oil.png

                                                                                                                      

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 74.06!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

We are getting close to your wave $iii$ projected endpoint so we need to be guard for its completion and the start of our wave $iv$ of (v) correction. Wave $iv$ should retrace between 23.6 to 38.2% of the entire wave $iii$ rally. We will give this market another day or so to see if all of wave $iii$ is actually complete at the 74.45 high.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We have updated our current count to suggest that we are getting very close to completing wave (i) of iii. Within wave (i), we likely completed all of wave -iii- at the 25.73 high and all of wave -iv- at the 22.32 low. If that is the case we are now moving higher in wave -v-.

 

After wave (i) ends we expect a wave (ii) correction that retraces between 50 to 61.8% of the entire wave (i) rally.

 

We have updated our projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

june 29 morning post!

 

 

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921cdnx.png

 

Short Term Update:

 

The CDNX was initially higher in yesterday’s trading session reaching a high of 953.79, although we closed lower at 944.80.

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 33.72, closing at 33.98.

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921gold.png

 

Short Term Update: 

 

Gold drifted lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1764.30.   After that low was made we moved higher to be trading at the 1774.00 level.

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

On the Intraday Chart we appear to have a bearish triangle formation that started at the 1797.50 and it appears to be nearing completion. If this observation is correct then gold is going to drop one more time to at least the 1761.20 low, before all of wave (ii) ends.

 

A break above the 1797.50 high now would eliminate this formation and suggest that the 1761.20 low is likely the end of all of wave (ii).

 

Note the potential head and shoulders bottom formation on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921si.png

 

Short Term Update:

 

Silver moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 26.06 level!

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

On the Intraday Chart silver also appears to have a bearish triangle formation which is nearing completion. This triangle started at the 26.55 high. If this observation is correct then silver should drop one more time back to the 25.58 before all of wave *ii* ends.

 

A break now above the 26.55 high now would eliminate this triangle formation and suggest that the 25.58 low is likely the end of all of wave *ii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.471%. In the overnight session we have moved sideways currently trading at the 1.488% level!

 

All of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921sp120.png  

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4292.14. In the overnight session the SP500 Futures are down about 3 points!

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and all or most of wave -b- at 4286.12. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921usdb.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached ahigh of 92.12!

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle.

 

 For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921oil.png                                                                                                                       

Short Term Update:

 

Crude was lower in yesterday’s day session and that trend lower continued in the overnight session as we reached a low of 71.98!

 

After that low was made we moved higher reaching a high of 73.13!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

We are getting close to your wave $iii$ projected endpoint so we need to be guard for its completion and the start of our wave $iv$ of (v) correction. Wave $iv$ should retrace between 23.6 to 38.2% of the entire wave $iii$ rally. We will give this market another day or so to see if all of wave $iii$ is actually complete at the 74.45 high.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We have updated our current count to suggest that we are getting very close to completing wave (i) of iii. Within wave (i), we likely completed all of wave -iii- at the 25.73 high and all of wave -iv- at the 22.32 low. If that is the case we are now moving higher in wave -v-.

 

After wave (i) ends we expect a wave (ii) correction that retraces between 50 to 61.8% of the entire wave (i) rally.

 

We have updated our projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

JUNE 28 morning post

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821cdnx.png  

Short Term Update:

 

The CDNX was initially higher in Friday’s trading session reaching a high of 953.29, although we closed lower at 948.51.

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/2021jun28gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821gdx.png

 

Short Term Update:

 

The GDX was initially higher in Friday’s trading session reaching a high of 34.95, although we closed lower at 34.36!

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821gold.png

 

Short Term Update: 

 

Gold was higher in Friday’s day session reaching a high of 1791.00. In the overnight session we moved lower reaching a low of 1770.45, but after that low was made we moved higher reaching a high of 1786.00!

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

On the Intraday Chart we appear to have a bearish triangle formation that started at the 1797.50 and it appears to be nearing completion. If this observation is correct then gold is going to drop one more time to at least the 1761.20 low, before all of wave (ii) ends.

 

A break above the 1797.50 high now would eliminate this formation and suggest that the 1761.20 low is likely the end of all of wave (ii).

 

Note the potential head and shoulders bottom formation on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821si.png

 

Short Term Update:

 

Silver moved higher in Friday’s day session reaching ahigh of 26.38. In the overnight session we moved lower reaching a low of 25.85, but after that low was made we moved higher reaching a high of 26.27.

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

On the Intraday Chart silver also appears to have a bearish triangle formation which is nearing completion. This triangle started at the 26.55 high. If this observation is correct then silver should drop one more time back to the 25.58 before all of wave *ii* ends. A break now above the 26.55 high now would eliminate this triangle formation and suggest that the 25.58 low is likely the end of all of wave *ii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in Friday’s day session reaching ahigh of 1.545%. In the overnight session we moved lower reaching a low of 1.509%!

 

All of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2821sp120.png  

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4286.12. In the overnight session the SP500 Futures are almost unchanged!

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and all or most of wave -b- at 4286.12. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2921usd.png  

Short Term Update:

 

The USDX was initially lower in Friday’s day session reaching a low of 91.52. In the overnight session we moved higher reaching a high of 92.01!

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle. For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun28oil.png                                                                                                                       

Short Term Update:

 

Crude was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 74.45!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

We are getting close to your wave $iii$ projected endpoint so we need to be guard for its completion and the start of our wave $iv$ of (v) correction. Wave $iv$ should retrace between 23.6 to 38.2% of the entire wave $iii$ rally. We will give this market another day or so to see if all of wave $iii$ is actually complete at the 74.45 high.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                             

Suncor: We have updated our current count to suggest that we are getting very close to completing wave (i) of iii. Within wave (i), we likely completed all of wave -iii- at the 25.73 high and all of wave -iv- at the 22.32 low. If that is the case we are now moving higher in wave -v-.

 

After wave (i) ends we expect a wave (ii) correction that retraces between 50 to 61.8% of the entire wave (i) rally.

 

We have updated our projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

JUNE 27 WEEKLY CHARTS POST!

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721gold.png

 

Long Term Update:

 

Gold was higher this past week reaching 1795.80, closing at 1777.80!

                                                                          

Within wave ^iii^, it now looks like all of wave (i) ended at 19191.20 high and if that is the case then we are now falling in wave (ii).

 

We have already reached our 61.8% retracement level for all of wave (ii) which is 1765.90, so we need to be on guard for its completion and the start of our expected wave (iii) of ^iii^ rally.    

 

On the Intraday Chart we have a small bearish triangle formation which developed this past week. If this observation is correct, then we should see one more drop below the 1761.20 level, before all of wave (ii) ends.

 

A rally now above 1797.50, would eliminate this formation and suggest that the 1761.20 low is the end of all of wave (ii).                       

 

Longer term our initial projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ = 2687.80!

 

Longer term our current initial projected endpoint for all of wave *iii* is:                                                 

 

*iii* = 1.618*iii* = 2306.30.

 

We suspect that wave *iii* will likely extend since wave ^iii^ of *iii* is now projected to be higher than the current complete wave *iii* projection.     

                              

Active Positions: Long with puts as stops! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721si.png

 

Long Term Update:

 

Silver was initially lower this past week reaching a low of 25.58, although we closed higher at 26.09!  

                                                                  

Wave ii is complete at the 21.96 low and we are now rallying higher in wave iii of 3, which has an initial projected endpoint of:

 

iii = 1.618i = 51.52.

 

Within wave iii, we completed wave (i) at 29.91 and all of wave (ii) at the 23.74 low. We are now rallying in wave (iii) of iii, which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 34.22.

 

Within wave (iii), we now appear to have completed wave -i- at 28.90 and continue to work on the final subdivisions within wave -ii-. Our 61.8% retracement for all of wave -ii- is 25.74, so we need to be guard for the completion of wave -ii-, and the start of a sharp rally in wave -iii-.  

 

On the Intraday Chart we have a small bearish triangle formation which developed this past week. If this observation is correct, then we should see one more drop below the 25.58 low, before all of wave -ii- ends. A rally now above 26.55 would eliminate this formation and suggest that the 25.58 low is the end of all of wave -ii-.                                                 

 

Longer term our initial projection for the end of wave 3 is:

                                                             

3 = 1.618(1) = 86.50   

 

In the very long term we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with puts as a stop!

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.545%, closing at 1.536%!

 

The multi-decade bear market in US interest is now over as it ended at the 0.398% low. Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s.

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence. Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

(iii) = 1.618 (i) =1.910%.

 

We expect to move higher as we head toward the 1.910% level. Within wave (iii) we completed wave *iii* at 1.765% and are still working on our wave *iv* correction.

 

After wave *iv* ends we expect a wave *v* rally to complete all of wave (iii).

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 72.99, closing at 71.29!

 

We updated our count in crude this week to suggest that we completed all of wave (iii) of i at 67.98, and all of wave (iv) as a bullish triangle at 58.73.

 

We are now rallying in wave (v) of i, which remains incomplete.

 

A continuation of this rally to at least the 76.90 level appears like. After wave i ends we expect a wave ii correction that should retrace between 50 to 61.8% of the entire wave i rally.

 

(iii) = 1.618(i) = 93.96.

 

In the long term we are now rallying in wave C that has the following projections:

 `

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721su.png

 

Long Term Update:

 

Suncor moved sideways this past week, but closing higher at 24.64!

 

We continue to rally sharply higher in wave iii. Our have updated our projection for the end of wave iii to:

 

iii = 2.618i = 42.40.

 

Within wave (i) of iii it looks like wave -iii- ended at the 25.73 and wave -iv- at 23.22. We should now be rallying in wave -v- of (i).

 

After wave (i) ends we expect a drop in wave (ii) which should retrace between 23.6 to 38.2% of the entire wave (i) rally.

 

Active Positions: Long crude, with puts as a stop. Long Suncor.                                

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4286.12, although we closed lower at 4280.70!

 

From the 3723.34 low we have now completed the minimum requirements for a completed 5 wave impulsive sequence at the 4238.04 high, and we are now working on the assumption that all of wave (iii) of v is complete at that high.

 

We should therefore be falling in complex wave (iv) correction, which has the following retracement levels;

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is starting to look like wave (iv) has become a flat correction.

 

Active Positions: Short with calls as stops!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 91.50, closing at 91.84!

 

It looks like within wave -v-, wave *i* ended at 89.52, and if that is the case we are now rallying in wave *iii*. Our 61.8% retracement level for all of wave *ii* is 91.96, which have exceeded.

 

We need to turn down now for our current count within wave -v- to remain valid, otherwise it could be possible that wave -iv- has become more complex and in this case we will be heading back to the 93.47 level before it ends. The other option is that wave -iv- is becoming a bearish triangle.

 

With our current count we still expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721cdnx.png

 

Long Term Update:

 

The CDNX was initially lower this past week reaching a low of 935.10, but we closed higher at 948.51!

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$, and within wave $iii$, wave *i* ended at 981.88 and all or most of wave *ii* at the 935.10 low.

 

If that is the case then we should start to rally higher in wave *iii* of $iii$. We plan to provide our first projection for the end of wave $iii$ soon.

 

Longer term we continue to rally sharply higher in wave .iii. which has an initial endpoint of:

 

.iii. = 1.618.i. = 1357.02!    

 

Wave .iii. is now subdividing and if that is the case then we should now be rallying sharply higher in wave -iii- of .iii. Our initial projected endpoint for all of wave -iii- is:

 

-iii- =1.618-i- = 1592.50!                          

 

Our minimum long-term target for the end of wave C is 3341.56.

 

Active Positions: Long the GDXJ and key CDNX juniors, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721gdx.png

Long Term Update:

 

The GDX was higher this past week reaching a high of 35.18, closing at 34.36!

 

We to rally sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

It look like that with wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ could be complete at the 34.10 low. Our 61.8% retracement level for all of wave ^ii^ is 34.17.

 

After wave ^ii^ ends we expect a sharp rally in wave ^iii^.

 

Our current projection for the end of 3 is:

 

 3 = 2.618 (-1-) = 66.37.                                                  

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions recently!

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2721bit.png

 

Long Term Update:

 

Bitcoin was lower this past week reaching a low of 28908, but closing at 33157!

 

All of wave 1 or A is now complete at the 64860 high. We are now falling in wave 2 of B which has the following retracement levels:

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly.

 

On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence… which could now be complete at the 28908 low!

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop.

 

After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

We will provide our first projections for the end of the wave (b) rally, after we believe that all of wave (a) is complete.

 

We have graphically shown our suggested path for all of wave 2 or B on our Bitcoin Weekly Chart.

 

Thanks!

Captain & Crew

 

june 25 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521cdnx.png  

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 951.47, closing at 950.59!

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521gdxd.png  

Short Term Update:

 

The GDX was initially lower in yesterday’s trading session reaching a low of 34.29, although we closed higher at 34.44!

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521gold.png   

Short Term Update: 

 

Gold moved sideways in yesterday’s day session. In the overnight session we have moved higher reaching a high of 1786.60!

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

On the Intraday Chart we appear to have a bearish triangle formation that started at the 1797.50 and it appears to be nearing completion.

 

If this observation is correct then gold is going to drop one more time to at least the 1761.20 low, before all of wave (ii) ends.

 

A break above the 1797.50 high now would eliminate this formation and suggest that the 1761.20 low is likely the end of all of wave (ii).

 

Note the potential head and shoulders bottom formation on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521si.png

 

Short Term Update:

 

Silver moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 26.24 level!

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

 

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

On the Intraday Chart silver also appears to have a bearish triangle formation which is nearing completion.

 

This triangle started at the 26.55 high. If this observation is correct then silver should drop one more time back to the 25.58 before all of wave *ii* ends.

 

A break now above the 26.55 high now would eliminate this triangle formation and suggest that the 25.58 low is likely the end of all of wave *ii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 1.488% level!

 

All of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time high at 4271.28. In the overnight session the SP500 Futures are up about 3 points.

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and all or most of wave -b- at 4271.28.

 

If that is the case then we are now falling in wave -c-.

 

Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521usd.png

 

Short Term Update:

 

The USDX was marginally higher in yesterday’s day session reaching a high of 91.92. In the overnight session we moved lower reaching a low of 91.67.

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle.

 

For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion.

 

After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2521oil.png

                                                                                                                      

Short Term Update:

 

Crude was initially lower in yesterday’s day session reaching a low of 72.32. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached a high of 73.61!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

We are getting close to your wave $iii$ projected endpoint so we need to be guard for its completion and the start of our wave $iv$ of (v) correction. Wave $iv$ should retrace between 23.6 to 38.2% of the entire wave $iii$ rally. We will give this market another day or so to see if all of wave $iii$ is actually complete at the 74.25 high.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

june 24 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421cdnx.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 949.58, closing at 945.90!

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421gdxd.png

 

Short Term Update:

 

The GDX was initially higher in yesterday’s trading session reaching a high of 35.18, although we closed lower at 34.33.

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session reaching a high of 1795.60.

 

After that high was made we moved lower and that trend lower continued early in the overnight session as we reached a low of 1772.90.

 

After that low was made we moved higher again reaching a high of 1788.10!

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

Note the head and shoulders bottom on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session reaching ahigh of 26.37.

 

After that high was made we moved lower reaching a low of 25.85.

 

In the overnight session we have moved higher reaching a high of 26.16!

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

 

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 1.489% level.

 

All of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421spd120.png

 

Short Term Update:

                                                             

The SP500 was initially higher in yesterday’s trading session reaching high of 4256.60, although we closed marginally lower at 4241.84.

 

In the overnight session the SP500 Futures are up about 21 points.

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and all or most of wave -b- at 4257.16. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421usd.png

 

Short Term Update:

 

The USDX was initially lower in yesterday’s day session reaching a low of 91.50. After that low was made we moved higher and that trend higher continued initially in the overnight session as we reached a high of 91.87!

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle. For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2421oil.png                                                                                                                       

Short Term Update:

 

Crude was higher in yesterday’s day session reaching a high of 74.25. In the overnight session we have moved lower reaching a low of 72.86.

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

We are getting close to your wave $iii$ projected endpoint so we need to be guard for its completion and the start of our wave $iv$ of (v) correction. Wave $iv$ should retrace between 23.6 to 38.2% of the entire wave $iii$ rally. We will give this market another day or so to see if all of wave $iii$ is actually complete at the 74.25 high.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

jun 23 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321cdnx.png

 

Short Term Update:

 

The CDNX was lower in yesterday’s trading session reaching a low of 935.10, closing at 940.03.

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level.

 

We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 935.10 low.

 

If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjjun2321gold.png

 

Short Term Update:

 

The GDX moved sideways in yesterday’s trading session, and we closed a bit lower at 34.55.

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjjun2321gold.png

 

Short Term Update: 

 

Gold moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 1783.80 level.

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

Note the head and shoulders bottom on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321si.png

 

Short Term Update:

 

Silver moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 25.96 level.

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

 

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.458%.

 

We have updated our current count to suggest that all of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321spd120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching high of 4255.84. In the overnight session the SP500 Futures are almost unchanged!

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and wave -b- at 4257.16. If that is the case then we are now falling in wave -c-.

 

Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                  

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321usd.png  

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 91.64.

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle.

 

For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2321oil.png                                                                                                                       

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 73.56!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

JUNE 22 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221cdnx.png  

Short Term Update:

 

The CDNX was lower in yesterday’s trading session reaching a low of 939.78, closing at 941.93!

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 939.49 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 34.95, closing at 34.77!

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high of 39.88, and we are therefore now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for the completion of all of wave ^ii^ and the start of a sharp rally in wave ^iii^.

 

We have another projected end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221gold.png

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher continued earlier in the overnight session as we reached ahigh of 1790.20.

 

After that high was made we moved lower reaching a low of 1776.30 and we are now trading at the 1782.00 level.

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

Note the head and shoulders bottom on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221si.png

 

 

Short Term Update:

 

Silver moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 25.97 level!

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.507%!

 

We have updated our current count to suggest that all of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.438% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun221sp120-1.png

 

Short Term Update:

                                                             

The SP500 was sharply higher in yesterday’s trading session reaching high of 4226.24. In the overnight session the SP500 Futures are higher by about 6 points!

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and wave -b- at 4257.16. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun221usd-1.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 91.82. In the overnight session we have moved higher reaching a high of 92.14!

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle. For the bearish triangle to remain valid we cannot trade above the 93.47 level.

 

We have also introduced a possible very bearish alternate that is shown on the Daily USDX Chart. This count is suggesting that we are still working on a very large wave *iv* of -iii- bearish triangle, which could be getting very close to completion. After wave *iv* ends we expect a sharp drop lower in wave *v* which has a projected endpoint of :

 

-iii- = 2.168-i- = 86.26

 

For now we will stay with our current analysis as the preferred. Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2221oil.png

                                                                                                                      

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 73.33!

 

It is now looks like our initial five wave impulsive rally out of the 6.50 wave B low is still underway as shown in our updated count on our Daily Crude Chart. We appear to be working on wave (v), and within wave (v) we are working on wave $iii$, which has an initial projected endpoint of :

 

$iii$ = 1.618$i$ = 74.55.

 

After all of wave (v) ends we would have completed all of wave i of C. We will slightly update our Long Term Count in this week’s End of Week Post.

                                                                                                                   

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

june 21 morning post!

Captain Ewave Morning Post!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts.  

From there, add more detail to your study.

 

If any sub needs one-on-one help with the wave counts, just some handholding during market dips, or both, shoot us an Email we’ll work out a phone talk time slot.  Can buy a one-time slot or multi… Thanks, Captain & Crew 

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121cdnx.png  

Short Term Update:

 

The CDNX was higher in Friday’s trading session reaching a high of 949.87, closing at 946.83!

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

78.6% = 895.63.

 

We now need to be on guard for the completion of wave $ii$ at the 902.30 low and the start of a major rally in wave $iii$. Our current short term challenge is to clear resistance at the 1000 level. We are very close to declaring that all of wave $ii$ is complete at the 902.30 low.

 

If we assume that all of wave $ii$ is complete at the 902.30 low then it could be possible that wave $iii$ is subdividing as shown on our Daily CDNX Chart, with wave *i* ending at 981.88 and all or most of wave *ii* at the 939.49 low. If that is the case then we should start moving higher in wave *iii* of $iii$.

 

We will provide our first projection for end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121gdxd.png

 

Short Term Update:

 

The GDX was lower again in Friday’s trading session reaching a low of 34.10, closing at 34.13.

 

We are now working on the assumption that all of wave ^i^ of *iii* is complete at the failure high at 39.88, and we are now falling in wave ^ii^, which has the following retracement levels:

 

50% = 35.26;

61.8% = 34.22.

 

We have now reached our 61.8% retracement zone so we need to be guard for its completion and the start of a sharp rally in wave ^iii^. WE have another project end point for all of wave -c- of ^i^ at:

 

-c- = 2.618-a- = 34.12.

 

We also have a head and shoulders bottom formation on the GDX Chart.

 

We added to our longs on Friday!   

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!           

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Kinross(Updated May 25th,2021):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and all of wave .ii. at the 6.09 low. We are now rallying in wave .iii. which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 18.26.

 

Longer term our updated projection for the end of wave (iii) is:

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated May 21,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and all of wave -ii- at the 18.64 low. WE are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 48.35.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

After wave iii ends, we expect a wave iv correction that retraces between 23.6 to 38.2% of the entre wave iii rally.

 

HUI (Updated May 20th, 2021): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following updated projected endpoint:

 

iii = 4.25i=644.35.

 

Within wave iii, we completed all of wave (ii) at 247.99 and we are now starting to rally higher in wave iii, which has the following projected endpoint:

 

(iii) = 1.618(i) = 622.30.

 

XAU (Updated May 18, 2021): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36, and all of wave .ii. at the 128.08 low. We are now rallying in wave .iii., which as an initial projected endpoint of:

 

.iii. = 1.618.i. = 233.83.

 

Longer term, wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Since wave .iii. has a higher projection then wave -iii-, we would assume that wave -iii- will move to next projected endpoint which is:

 

-iii- = 4.25-i- = 288.57

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121gold.png

 

Short Term Update: 

 

Gold was lower in Friday’s day session reaching a low of 1761.20. In the overnight session we have moved higher reaching a high of 1785.80!

 

We are now working on the assumption that all of wave (i) of ^iii^ is complete at the 1919.20 high and that we are now falling in wave (ii), which has the following retracement levels:

 

50% = 1794.20;

61.8% = 1765.90.

 

We have now reached our 61.8% retracement level so we need to be guard for the completion of all of wave (ii), and start of a sharp wave (iii) rally.

 

Note the head and shoulders bottom on our Daily Gold Chart.                                           

 

Longer term our first projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ =  2687.80.

 

Longer term our current projected endpoint for all of wave *iii* is:

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

We added to our gold longs on Friday.

 

Trading Recommendation: Long gold. Use puts as stops.  

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121si.png

 

Short Term Update:

 

Silver was lower in Friday’s day session and that trend lower continued early in the overnight session as we reached a low of 25.58.

 

fter that low was made we moved higher reaching a high of 26.13!

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

We are now working on the assumption that within wave -iii, wave *i* ended at the 28.90 high and that we are now falling in wave *ii*, which has the following retracement levels:

50% = 26.35

61.8% = 25.74.

 

Like the GDX and gold, sliver has now reached its 61.8% retracement level so we need to be on guard for the completion of wave *ii*, and the start of a sharp rally in wave *iii*.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in Friday’s day session reaching a low of 1.452%. In the overnight session we have moved higher reaching a high of 1.460%!

 

We have updated our current count to suggest that all of wave *iii* of (i) ended at the 1.765% high. We still appear to be working on a complex wave *iv* correction, which could now be complete at the 1.452% level. After wave *iv* ends we expect a wave *v* rally to be the next big event in this market.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

After wave (iii) ends we expect a wave (iv) correction that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121sp120.png

 

Short Term Update:

                                                             

The SP500 was lower in Friday’s trading session reaching low of 4164.40. In the overnight session the SP500 Futures are higher by about 18 points!

 

All of wave -v- of (iii) is now complete at 4236.39 high. We are now falling in wave (iv), which has the following retracement levels:

 

23.6% = 3889.53;

38.2% = 3674.95.

 

The expected drop in wave (iv) should be between 300 and 550 points.

 

As shown on our 120 Min SP500 Chart it looks like wave (iv) has become a flat correction with wave -a- ending at 4056.88 and wave -b- at 4257.16. If that is the case then we are now falling in wave -c-. Wave (iv) could still become much more complex also.

                                                                                                                                                                                                                                       

Trading Recommendation: Short with calls as stops.

                                                                                   

Active Positions: Short will calls as stops!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121usd.png

 

Short Term Update:

 

The USDX was higher in Friday’s day session reaching ahigh of 92.40. In the overnight session we have moved lower reaching a low of 92.03.

 

It look likes within wave -v-, wave *i* ended at the 89.52 low and we are now rallying in wave *ii*, which has the following retracement levels:

 

50% = 91.50

61.8%= 91.96

78.6% = 92.60

 

We have now exceeded our 61.8% retracement level, so we could be heading to our 78.6% retracement level before all of wave *ii* ends. The other option is that wave -iv- maybe still be underway as a flat correction or possibility a bearish triangle. For the bearish triangle to remain valid we cannot trade above the 93.47 level. For now we will stay with our current analysis as the preferred.

 

Nevertheless we need to be on guard for the completion of wave *ii*, and the start of a sharp drop lower in wave *iii*. We will provide our first projections for the end of wave *iii*, after wave *ii* ends.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.                         

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat! 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/06/ewjun2121oil.png                                                                                                                       

Short Term Update:

 

Crude was higher in Friday’s day session reaching a high of 71.82. In the overnight session we have moved lower reaching a low of 71.17.

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

JUNE 20 WEEKLY CHARTS POST!

Weekly Charts Post!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021gold.png

 

Long Term Update:

 

Gold was sharply lower this past week reaching a low of 1761.20, closing at 1769.00.

                                                                          

Within wave ^iii^, it now looks like all of wave (i) ended at 19191.20 high and if that is the case then we are now falling in wave (ii).

 

We have already reached our 61.8% retracement level for all of wave (ii) which is 1765.90, so we need to be on guard for its completion and the start of our expected wave (iii) of ^iii^ rally. 

 

We bought more gold on Friday!                                              

 

Longer term our initial projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ = 2687.80.

 

Longer term our current initial projected endpoint for all of wave *iii* is:                                                 

 

*iii* = 1.618*iii* = 2306.30.

 

We suspect that wave *iii* will likely extend since wave ^iii^ of *iii* is now projected to be higher than the current complete wave *iii* projection.     

                              

Active Positions: Long with puts as stops.

 

 We added to our longs on Friday!!

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021si.png

 

Long Term Update:

 

Silver was sharply lower this past week reaching a low of 25.77, closing at 25.97.

                                                                  

Wave ii is complete at the 21.96 low and we are now rallying higher in wave iii of 3, which has an initial projected endpoint of:

 

iii = 1.618i = 51.52.

 

Within wave iii, we completed wave (i) at 29.91 and all of wave (ii) at the 23.74 low. We are now rallying in wave (iii) of iii, which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 34.22.

 

Within wave (iii), we now appear to have completed wave -i- at 28.90 and all or most of wave -ii- at the 25.77 low. Our 61.8% retracement for all of wave -ii- is 25.74, so we need to be guard for the completion of wave -ii-, and the start of a sharp rally in wave -iii-.   

 

Longer term our initial projection for the end of wave 3 is:

                                                             

3 = 1.618(1) = 86.50   

 

In the very long term we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop. We added to our longs on Friday.

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was lower this past week reaching a lower of 1.438%, closing at 1.450%!

 

It appears that the bear market in US interest is now over and it ended at the 0.398% low. Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s.

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence. Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

(iii) = 1.618 (i) =1.910%.

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. Within wave (iii) we completed wave *iii* at 1.765% and are still working on our wave *iv* correction. After wave *iv* ends we expect a wave *v* rally to complete all of wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 72.99, closing at 71.29!

 

We still think that we are working on a complex wave -ii- correction that has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

The rally from 57.25 to the current high of the current high of 71.24 does not look impulsive which is suggesting lower prices lie head, after this rally ends. We are still short of retracement levels for our wave -ii- correction, so we still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

In the long term we are now rallying in wave C that has the following projections:

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021su.png  

 

Long Term Update:

 

Suncor was initially higher past week reaching a high of 26.73, but we closed lower sharply lower at 23.39.

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

Active Positions: Long crude, with puts as a stop. Long Suncor!                             

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4257.16, although we closed lower at 4166.45.

 

From the 3723.34 low we have now completed the minimum requirements for a completed 5 wave impulsive sequence at the 4238.04 high, and we are now working on the assumption that all of wave (iii) of v is complete at that high. We should therefore be falling in complex wave (iv) correction, which has the following retracement levels;

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is starting to look like wave (iv) has become a flat correction, which we will discuss more in our Monday Morning Post.

 

Active Positions: Short with calls as stops.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/06/2021jun2021usd.png

 

Long Term Update:

 

The USDX was sharply higher this past week reaching a high of 92.39, closing at 92.21!

 

It looks like within wave -v-, wave *i* ended at 89.52, and if that is the case we are now rallying in wave *iii*. Our 61.8% retracement level for all of wave *ii* is 91.96, which have exceeded.

 

We need to turn down now for our current count within wave -v- to remain valid, otherwise it could be possible that wave -iv- has become more complex and in this case we will be heading back to the 93.47 level before it ends.

 

The other option is that wave -iv- is becoming a bearish triangle, which we will discuss in more detail in our Monday Morning Post.

 

With our current count we still expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021cdnx.png

 

Long Term Update:

 

The CDNX was initially marginally higher this past week reaching a high of 982.22, but we closed lower at 946.83!

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$, and within wave $iii$, wave *i* ended at 981.88 and all or most of wave *ii* at the 939.49 low.

 

If that is the case then we should start to rally higher in wave *iii* of $iii$. We will provide our first projection for the end of wave $iii$ next week.

 

Longer term we continue to rally sharply higher in wave .iii. which has an initial endpoint of:

 

.iii. = 1.618.i. = 1357.02    

 

Wave .iii. is now subdividing and if that is the case then we should now be rallying sharply higher in wave -iii- of .iii. Our initial projected endpoint for all of wave -iii- is:

 

-iii- =1.618-i- = 1592.50.                           

 

Our minimum long term target for the end of wave C is 3341.56.

 

Active Positions: Long the GDXJ, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021gdx.png

 

Long Term Update:

 

The GDX was sharply lower this past week reaching a low of 34.10, closing at 34.13.

 

We to rally sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

It look like that with wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ could be complete at the 34.10 low. Our 61.8% retracement level for all of wave ^ii^ is 34.17. After wave ^ii^ ends we expect a sharp rally in wave ^iii^.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions this week also!!

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021bit.png

Long Term Update:

 

Bitcoin was initially higher this past week reaching a high of 41307, but we closed lower at 34197!

 

All of wave 1 or A is now complete at the 64860 high. We are now falling in wave 2 of B which has the following retracement levels:

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly. On the Daily Chart it looks like form the 64860 high we are falling in an impulsive sequence which does NOT look to be complete at the 29925 low.

 

We need one more drop below that low to satisfy all of the minimum requirement for our first impulsive sequence to be complete. After that happens we would have completed all of wave (a).

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

We have graphically shown our suggested path for all of wave 2 or B on our Bitcoin Weekly Chart.

 

Thanks!

Captain & Crew