DEC 31 morning post!

 Happy New Year to our Subs… from the Captain!

 

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/2021/12/ewdec3121cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 933.34 and closing on its high of 933.34!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct. Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec3121gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec31gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 31.83, closing at 31.78!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern.

 

We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low. If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

We are still a little short of our 50% retracement level, although it looks like within wave ^b^ we are now rallying in wave $c$ of ^b^. We should still see higher prices as he head into our retracement zone. After wave ^b^ ends we expect another drop in wave ^c^ to finally complete all of wave *ii*.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are arrived.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,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 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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 December 31st , 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec3121gold.png  

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1821.50!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low.

 

We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are have now reached our 50% retracement level so we need to be on guard for the possible completion of wave ^b^ and the start of our wave ^c^ drop. Wave ^b^ is likely still underway and may be heading to our 61.8% retracement level.

 

After wave ^b^ ends we expect one more drop back to at least the 1753.00 level.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec3121si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached high of 23.26!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii.

 

The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 50% retracement level so we need to be on guard for the completion of wave $b$ and the start of another drop in wave $c$ of -v- of ii.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec3121bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.503%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec3121spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec3121sp120.png  

Short Term Update:

                                                              

The SP500 was initially higher in yesterday’s trading session reaching another all-time high at 4808.93, although we closed lower at 4778.73. In the overnight session the SP500 Futures are down by about 12 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec3121usd.png

 

Short Term Update:

 

The USDX moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 95.95 level.

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends. A break now below 95.54 would eliminate this triangle option.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                         

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec3121oil.png Short Term Update:

 

Crude was higher in yesterday’s day session reaching a high of 77.44. In the overnight session we have moved lower reaching a low of 75.43!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we are working on an expanding and extending wave (iv) of i bullish triangle.

 

Within our triangle we may have completed wave $c$ at the 62.46 low. If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.

 

Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

We are once again challenging our major red downtrend line.

 

Our current 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

 

DEC 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/2021/12/ewdec3021cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of923.74, closing at 924.28!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct.

 

Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec3021gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec3021gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s volatile trading session reaching a high of 31.54, closing at 31.22!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low. If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is still 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

We are still a little short of our 50% retracement level, but we cannot rule the possibility that all of a very weak wave ^b^ ended at the 31.66 high. If that is the case then we are now starting to fall in our third wave ^c^, within the larger ongoing wave *ii* corrective pattern.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec3021gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1789.10, although after that low was made we did move higher reaching a high of 1806.20! In the overnight session we have moved sideways currently trading at the 1803.40 level!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low. We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are have now reached our 50% retracement level so we need to be on guard for the possible completion of wave ^b^ and the start of our wave ^c^ drop. Wave ^b^ may now be complete at the 1821.60 high. After wave ^c^ , .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec3021si.png

 

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 22.60. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached high of 22.92!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii.

 

The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 50% retracement level so we need to be on guard for the completion of wave $b$ and the start of another drop in wave $c$ of -v- of ii. Wave $b$ could be complete at the 23.47 high.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec3021bond.png

  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was sharply higher in yesterday’s day session reaching ahigh of 1.558%. In the overnight session we have moved lower reaching a low of 1.522%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec3021spd.png  

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec3021sp120.png  

Short Term Update:

                                                              

The SP500 moved sideways in yesterday’s trading session although we closed higher at 4793.06. In the overnight session the SP500 Futures are up about 7 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec3021usd.png  

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 95.74. In the overnight session we moved higher reaching a high of 96.22, although after that high was made we moved lower again and are currently trading at 95.96!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

A break now below 95.54 would eliminate this triangle option.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                         

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec3021oil.png                                                                                                                        

Short Term Update:

 

Crude was higher in yesterday’s day session reaching a high of 77.37. In the overnight session we have moved sideways and are currently trading at the 76.19 level!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

We are once again challenging our major red downtrend line.

 

Our current 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

 

DEC 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/2021/12/ewdec2921cdnx.png  

Short Term Update:

 

CDNX was higher in Thursday’s trading session reaching a high of 935.41, closing at 934.97! The CDNX was closed again yesterday.

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct. Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2921gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2921gdxd.png

 

Short Term Update:

 

The GDX was initially up in yesterday’s trading session reaching a high of 31.66, although we closed lower at 31.09!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern.

 

We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low. If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

We are still a little short of our 50% retracement level, but we cannot rule the possibility that all of a very weak wave ^b^ ended at the 31.66 high. If that is the case then we are now starting to fall in our third wave ^c^, within the larger ongoing wave *ii* corrective pattern.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2921gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session reaching a high of 1821.60. In the overnight session we have moved lower reaching a low of 1789.20!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low. We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are have now reached our 50% retracement level so we need to be on guard for the possible completion of wave ^b^ and the start of our wave ^c^ drop. Wave ^b^ may now be complete at the 1821.60 high. After wave ^c^ , .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2921si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session reaching a high of 23.47. In the overnight session we have moved lower reaching a low of 22.63!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35.

 

We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii.

 

The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 50% retracement level so we need to be on guard for the completion of wave $b$ and the start of another drop in wave $c$ of -v- of ii. Wave $b$ could be complete at the 23.47 high.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2921bond.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 1.500% level!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2921spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdef2921sp120.png

 

Short Term Update:

                                                              

The SP500 was initially higher again in yesterday’s trading session reaching another all-time high of 4807.02, although we closed marginally lower at 4786.35. In the overnight session the SP500 Futures almost unchanged!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec292usd.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 a high of 96.39!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2921oil.png                                                                                                                        

Short Term Update:

 

Crude was lower in yesterday’s day session and that trend lower has continued in the overnight session reaching a low of 75.39!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

We are once again challenging our major red downtrend line.

 

Our current 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

 

DEC 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/2021/12/ewdec2821cdnx.png

 

Short Term Update:

 

CDNX was higher in Thursday’s trading session reaching a high of 935.41, closing at 934.97! The CDNX was closed yesterday.

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct. Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2821gdx.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2821gdxd.png

 

Short Term Update:

 

The GDX was marginally higher in yesterday’s trading session reaching a high of 31.48, closing at 31.33!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low.

 

If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2821gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1820.70!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low.

 

We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are have now reached our 50% retracement level so we need to be on guard for the possible completion of wave ^b^ and the start of our wave ^c^ drop.

 

Wave ^b^ in the GDX is still a little short of its 50% retracement level, so we could see o still move higher , perhaps to our 61.8% retracement level before all of wave ^b^ ends.

 

After wave ^c^ , .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v.

 

This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2821si.png  

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached ahigh of 23.41!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2821bond.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 1.486% level!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2821spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2821sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply higher again in yesterday’s trading session reaching another all-time high of 4791.48.. In the overnight session the SP500 Futures up by about 12 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2821usd.png

 

Short Term Update:

 

The USDX moved sideways in yesterday’s day session reaching and that trend has continued in the overnight session as we are currently trading at the 96.00 level!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2821oil.png

 

Short Term Update:

 

Crude was sharply higher in yesterday’s day session and that trend higher has continued in the overnight session reaching a high of 76.92!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

Our current 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

 

DEC 27 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/2021/12/ewdec2721cdnx.png

 

Short Term Update:

 

CDNX was higher in Thursday’s trading session reaching a high of 935.41, closing at 934.97!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we now doubt that our current analysis is correct.

 

Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count soon.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2721gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2721gdxd.png  

Short Term Update:

 

The GDX was higher in Thursday’s trading session reaching a high of 31.39, closing at 31.30!

 

It looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low. If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2721gold.png

 

Short Term Update: 

 

Gold was higher in Thursday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1813.00!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart.

 

Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low. We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are still a bit short of our 50% retracement level so we suspect that all of wave ^b^ is still NOT complete.

 

After wave .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2721si.png  

Short Term Update:

 

Silver was higher in Thursday’s day session and that trend higher has continued in the overnight session as we have reached a high of 23.03!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii.

 

The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2721bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in Thursday’s day session reaching a high of 1.501%. In the overnight session we have moved sideways currently trading at the 1.496% level!

 

It looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2721spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2721sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply higher again in Thursday’s trading session reaching a high of 4740.74. In the overnight session the SP500 Futures up by about 9 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v). The SP500 should reach all time new highs today or this week.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2721usd.png

 

Short Term Update:

 

The USDX was lower in Thursday’s day session reaching a low of 95.97. In the overnight session we have moved higher reaching ahigh of 96.25!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2721oil.png

 

Short Term Update:

 

Crude was higher again in Thursday’s day session reaching ahigh of 73.95. In the overnight session we have moved lower reaching a low of 72.58!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle.

 

Within our triangle we may have completed wave $c$ at the 62.46 low. If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.

 

Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

Our current 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

 

 

DEC 26 WEEKLY CHARTS POST!

Gold:

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621gold1.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1812.00, closing at 1811.70!

                                                                          

All of wave -iii- ended at the 2089.20 high and our current preferred count is still suggesting that our lengthy wave -iv- bullish triangle is still underway!

 

Within our wave -iv- triangle all of wave .d. ended at the 1879.50 high. We are now falling in wave .e. that we believe is still likely NOT complete at the 1753.00 low.

 

Within wave .e., wave ^a^ ended at 1753.00, and we are now rallying in wave ^b^ which is likely not complete yet either. After wave ^b^ ends we expect one more drop in wave ^c^, to below the 1753.00 wave ^a^ low to complete all of wave .e. and our bullish wave -iv- triangle.

 

Wave .e. cannot drop below the wave .c. low of 1675.90 for this current triangle formation to remain valid.

 

We did have a bullish key weekly reversal a few weeks ago, so there is a very slim chance that all of wave .e. and all of our bullish -iv- ended at the 1753.00 low.

 

Our retracement levels for all of wave -iv- are:

 

23.6% = 1871.60;

38.2% = 1737.00.

 

After wave -iv- ends we expect a very sharp thrust higher wave -v-, which should take gold to all time new highs.

 

Our alternate counts still remain in play as follows:

 

Alternate Count 1, in red on our Weekly Gold Chart, is that all of wave -iv- ended at the 1675.90 low, and in this case we are now rallying in wave *i* of -v-.  

Alternate Count 2, in purple on our Weekly Gold Chart, would be that all of our wave -iv- bullish triangle has ended at the 1721.10 low.                       

 

Active Positions: Long with puts as stops!               

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621si1.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 22.97, closing at 22.94!  

                                                                  

Wave ii is NOT complete.

 

Our current count suggests that all of wave i ended at 29.91, and within wave ii, wave (a) ended at 21.81, wave (b) at 30.35, and we are now falling in an ending diagonal triangle wave (c) formation that has a minimum target of 21.41.

 

Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We did reach our minimum target for wave -v- of 21.41, but we still think within wave -v-, all of wave $a$ ended at 21.41, and we are now rallying in an incomplete wave $b$.

 

After wave $b$ ends we expect one more drop in wave $c$ to at least the 21.41 low, but more likely into our retracement zone for all of wave ii, before it ends.                                  

 

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!

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.501%, closing at 1.493%!

 

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.

 

It appears that wave (iii) is subdividing and within wave (iii), we completed wave -i- at 1.765%. We are currently now falling in wave -ii-, which has the following retracement levels:

 

50% = 1.130%

61.8% = 0.99%

 

We continue to believe that wave -ii- is still underway and subdividing with wave *a* ending at 1.128% and all of wave *b* at the 1.693% high. We have now labeled our internal wave count for all of wave *b* to suggest that it has become a double 3 wave correction pattern, which ended at the 1.693% high. We are now falling in wave *c*, which has a minimum target of the wave *a* low of 1.218%.

 

Another very bearish option is that the rally from 0.398% low to the 1.765% level is a 3 wave corrective rally, which would suggest that rates will be heading back to the 0.398% low. We currently do not see this as a plausible option, but from an Ewaves point of view it is.

                                                           

Active Positions: Short risking to 1.770%!

 

Crude Oil:                                                                                     

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621oil.png

 

Long Term Update:                                                                          

             

Crude was initially lower this past week reaching a low of 66.12, but after that low was made we moved higher reaching ahigh of 73.94. We closed at 73.79!

 

We had a key weekly reversal higher this past week which is suggesting higher prices likely lie ahead!

 

We continue to work on our very large wave (iv) bullish triangle. Wave (iii) ended at the 67.98 high. Within our bullish triangle, wave -c- is now complete at the 62.43 low, and we should now be rallying in wave -d-. Wave -d- cannot trade above the wave -b- high of 85.41.

 

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/2021/12/ewdec2621sun.png

 

Long Term Update:

 

Suncor was initially lower this past week reaching a low of 22.22, but after that low was made we moved higher reaching a high of 24.73, closing at 24.51!

 

We are still working on wave iii that is subdividing and within that wave we completed all of wave (i) at the 25.73 high, and all of wave (ii) at the 16.91 low. We are now rallying in wave (iii), which has an initial projection for its completion of:

 

(iii) = 1.618(i) = 42.28.

 

It looks like our major breakout is going to be delayed as wave (iii) appears to be subdividing with wave -i- of (iii) ended at the 26.97 high. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We now expect lower prices as wave -ii- develops, as we are still a bit short of our 50% retracement level, although we did have a key weekly reversal higher last week, which could be suggesting that ball of wave -ii- is complete at the 22.22 low.

 

If that is the case then we should start to rally sharply higher in wave -iii-, and should finally break though our major red downtrend line. We will give this market a few more days before we confirm that all of wave -ii- is complete at the 22.22 low.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec262sp.png

 

Long Term Update:

 

The SP500 was initially lower this past week reaching a low of 4531.10, but after that low as made we moved higher reaching a high of 4740.74. We closed at 4725.79.

 

We had a key weekly reversal higher last week which is bullish!

 

We are now working on the assumption that all of wave (iv) ended at the 4278.97 low and it looks like wave (v) is going to extend higher with wave -i- of (v) ending at 4743.83 and all of wave -ii- at 4495.12. If that is the case then we are now rallying higher in wave -iii- of (v).  

 

We expect to break to all time new high next week.

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 95.97, closing at 95.99!

 

We have now updated our count to suggest that within wave iii, all of wave (i) ended at 89.17. We are now rallying in wave (ii) which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We are now still waiting for confirmation that all of wave (ii) ended at the 96.94 high.

 

On the Intraday Chart we look to formation a bullish triangle that would be suggesting that we should see one more high above the 96.94 high before all of wave (ii) ends.

 

We will see how we trade early next week, and we may move our stop higher.

 

Active Positions: Short risking to 97.00!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621cdnx.png  

 

Long Term Update:

 

The CDNX was sharply higher this past week reaching a high of 935.41, closing at 934.97!

 

Our wave -ii- of .iii. correction is now complete at the 847.92 low and we are now rallying higher in wave -iii- which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16

 

Wave $i$ of -iii- ended at the 1025.77 high and we are now falling in wave $ii$. We have traded below our 78.6% retracement level for all of wave $ii$ which may be suggesting that all of wave -ii- may not be complete at the 847.92 low.

 

Our minimum multi-year 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/2021/12/ewdec2621gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 31.39, closing at 31.30!

 

We believe that wave *ii* is still underway as we work on our 3rd three wave corrective pattern. Our retracement levels for wave -ii- is:

 

50% = 30.98;

61.8% = 27.49.

 

Within wave *ii* we have a triple 3 wave corrective pattern, of which ae are working on the last. Within that last 3 wave pattern that started at the 35.08, we think all of wave ^a^ ended at the 28.90 low.

 

We are rallying in an incomplete wave ^b^, which with then be followed by another drop in wave ^v^ to at least the 28.83 low before all of wave *ii* ends.

 

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!

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/12/ewdec2621bit.png

Long Term Update:

 

Bitcoin was higher this past week reaching high of 51864, closing at 50075!

 

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

 

50% = 32430;

61.8% = 24777.

 

Within wave B or 2 all of wave (a) ended at the 28908 low and wave (b) is at the 68979 high. We are now falling in wave (c), which should be heading back to at least the wave (a) low of 28908 to complete all of wave 2 or B.

 

 Our 61.8% retracement level is lower that that, at around 25000.

 

Wave 2 or B has become a flat correction.

 

Thanks!

Captain & Crew

DEC 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/2021/12/ewdec2321cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 916.17 and closing on its high of 916.17!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct.

 

Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2321gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2321gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 31.18, closing at 31.16!

 

It looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low.

 

If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2321gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1809.20!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low.

 

We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are still a bit short of our 50% retracement level so we suspect that all of wave ^b^ is still NOT complete.

 

After wave .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs!!

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2321si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 22.92!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35.

 

We are falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii.

 

The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

Trading Recommendation: Long, 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/2021/12/ewdec2321bond.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 1.447% level.

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2321spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2321sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply higher again in yesterday’s trading session reaching a high of 4697.67. In the overnight session the SP500 Futures up by about 15 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2321usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 96.01. In the overnight session we have moved sideways, currently trading at the 96.10 level!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high.

 

If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2321oil.png

 

Short Term Update:

 

Crude was sharply higher again in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 73.23!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle.

 

Within our triangle we may have completed wave $c$ at the 62.46 low.

 

If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.

 

Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops.

 

Our current 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

 

DEC 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/2021/12/ewdec2221cdnx.png

 

Short Term Update:

 

CDNX was sharply higher in yesterday’s trading session reaching a high of 909.48, closing at 909.46!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct. Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec221gdx60a.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2221gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 30.92, closing at 30.82!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart. Within this third pattern we likely completed all of wave ^a^ at the 28.90 low.

 

If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^. Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2221gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1785.00. In the overnight session we have moved higher reaching a high of 1793.90!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low. We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are still a bit short of our 50% retracement level so we suspect that all of wave ^b^ is still NOT complete. After wave .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2221si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session reaching a high of 22.81. After that high was made we moved lower reaching a low of 22.44. In the overnight session we have moved higher reaching a high of 22.69!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2221bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was sharply higher in yesterday’s day session reaching a high of 1.498%. In the overnight session we have moved lower reaching a low of 1.448%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2221spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2221sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply higher in yesterday’s trading session reaching a high of 4651.14. In the overnight session the SP500 Futures up by about 2 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v), although we are now clinging just above the Armageddon Support Line, which must hold here. We did hold this line in yesterday’s trading session once again.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2221usd.png

 

Short Term Update:

 

The USDX moved sideways in yesterday’s day session. In the overnight session we have moved lower reaching a low of 96.27!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2221oil.png

 

Short Term Update:

 

Crude was sharply higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 71.78!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops.

 

Our current 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

 

DEC 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/2021/12/ewdec2121cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 875.84, closing at 882.63!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct.

 

Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We will update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64. Not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2121gdx60.png  

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ew2121gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 30.15, closing at 30.59.

 

It looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low. If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^.

 

Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2121gold.png  

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1789.00. In the overnight session we have moved higher reaching a high of 1800.90!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low.

 

We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are still a bit short of our 50% retracement level so we suspect that all of wave ^b^ is still NOT complete. After wave .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2121si.png

 

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 22.19. In the overnight session we have moved higher reaching a high of 22.80!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35.

 

We are falling in wave (c) which has become an ending diagonal triangle. Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41.

 

Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2121bond.png

  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.455%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high. We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2121spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2121sp120.png  

Short Term Update:

                                                              

The SP500 was sharply lower in yesterday’s trading session reaching a low of 4531.10. In the overnight session the SP500 Futures are up sharply by about 45 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v), although we are now clinging just above the Armageddon Support Line, which must hold here.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2121usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 96.33. In the overnight session we have moved sideways currently trading at the 96.36 level.

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00.!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2121oil.png

 

Short Term Update:

 

Crude was sharply lower in yesterday’s day session reaching a low of 66.12. 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 69.89!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops.

 

Our current 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

DEC 20 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/2021/12/ewdec2021cdnx.png

 

Short Term Update:

 

CDNX was initially lower in Friday’s trading session reaching a low of 879.96 but after that low was made we moved higher reaching a high of 894.96. We closed at 893.78!

 

All of wave $i$ of (i) of -iii- is complete at the 1025.77 high and we are now falling in wave $ii$, which has the following last retracement level:

 

78.6% = 885.98.

 

We have now deeply exceeded our 78.6% retracement level and although for the moment we are still showing this drop as wave $ii$ of -iii-, we doubt that our current analysis is correct. Wave -ii- is probably still underway and we will therefore be revisiting 847.92 again before all of wave -ii- ends.

 

We hope to update our count in the next day or so, after we take a closer look.

 

Longer term we are still rallying in wave .iii. and within wave .iii. we completed wave -i- at 1113.64.

 

We’re not so sure about wave -ii- ending at 847.92 however.

 

If wave -ii- ended at 847.92, then we are now rallying in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 1573.16.

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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/2021/12/ewdec2021gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2021gdxd.png

 

Short Term Update:

 

The GDX was initially higher Friday’s trading session reaching a high 31.76, although we closed marginally lower at 31.13!

 

It now looks like wave *ii* is still underway and is going to become a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we likely completed all of wave ^a^ at the 28.90 low.

 

If that is the case we should expect a rally in wave ^b^ which will be followed by another drop in our third wave ^c^. Our minimum target for the end of third wave ^c^ is 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

Our retracement levels for all of wave *ii* are:

 

50% = 30.98;

61.8% = 27.49.

 

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.

 

Updates on Gold and Gold Indices are Coming Soon.

 

Kinross(Updated September 02nd, 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 appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 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..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated September 01,2021):  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 August 31st, 2021): We continue to rally 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 are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated August 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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/2021/12/ewdec2021gold.png

 

Short Term Update: 

 

Gold was higher in Friday’s day session reaching ahigh of 1815.60.

 

In the overnight session we have moved lower reaching a low of 1795.30!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We are now falling in wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low. We should now be rallying in wave ^b^ of .e. and after wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

We are still a bit short of our 50% retracement level so we suspect that all of wave ^b^ is still NOT complete. After wave .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Bulls should still be using this setback to add or go long gold.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v.

 

This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

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/2021/12/ewdec2021si.png

 

Short Term Update:

 

Silver was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached low of 22.27!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35.

 

We are now falling in wave (c) which has become an ending diagonal triangle. Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v- we are currently falling in wave $a$. which likely ended at the 21.41 low. If that is the case then we should now expect a wave $b$ rally that will be followed by another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

Wave $b$ is still short of our 50% retracement level so we suspect that it is still NOT complete. Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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/2021/12/ewdec2021bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.355%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low. Wave *b* of -ii- is now complete at the 1.691% high.

 

We are now moving lower in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

Our retracement levels for all of wave -ii- are:

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2021spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2021sp120.png  

Short Term Update:

                                                              

The SP500 was sharply lower in Friday’s trading session reaching a low of 4600.22. In the overnight session the SP500 Futures are down sharply again by about 56 points!

 

It still looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/12/ewdec2021usd.png

 

Short Term Update:

 

The USDX was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 96.66!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high. We are watching aa developing bullish triangle formation which started at the 96.94 high.

 

If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                   

Trading Recommendation: Short risking to 97.00.

 

Active Positions: Short risking to 97.00! 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/12/ewdec2021oil.png

 

Short Term Update:

 

Crude was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 66.69!

 

We are working on the assumption that wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle.

 

Within our triangle we may have completed wave $c$ at the 62.46 low. If that is the case then we are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops.

 

Our current 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