JAN 24 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422cdnx.png

 

Short Term Update:

 

CDNX was sharply lower in Friday’s trading session reaching a low of 855.75, closing at 856.62!

 

We have updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high.

 

We are falling in our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high. If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

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/2022/01/ewjan2422gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422gdxd.png

 

Short Term Update:

 

The GDX was lower in Friday’s trading session reaching a low of 31.48, closing at 31.65!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high.

 

We are now working on our second 3 wave pattern. All of wave ^b^ has the following last retracement level:

 

78.6% = 33.76.

 

We have now exceeded our 61.8% retracement level so we need to be on guard for the completion of all of wave ^b^, possibly at the 33.16 high.

 

After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low 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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan2422gold.png  

 

Short Term Update: 

 

Gold was lower in Friday’s day session reaching a low of 1828.40. In the overnight session we have moved higher reaching a high of 1844.80!

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following last retracement levels:

 

78.6%= 1852.40.

 

Our last retracement level is the 78.6% level. We are now waiting for confirmation that all of wave ^b^ is complete at the 1848.50 high. After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan2422si.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 a low of 24.05!

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the last retracement level of:

 

78.6%= 24.62.

 

We have now reached exceeded our 78.6% retracement level, which could be suggesting that silver is at least going to be heading back to the wave -iv- high of 25.49. This might be indicating that wave -iv- is still underway, as we have shown on our Daily Silver Chart. This option will be our Alternate Count.

 

If our current count to remain valid, wave $b$ must end and start moving lower now 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.

 

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/2022/01/ewjan2422bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.721%!

 

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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We are now waiting for confirmation that it is complete at the 1.874% high. It looks like wave -ii- has become a irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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).   

 

We have decided to move our stops to the 1.900% level.                          

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422sp120.png  

Short Term Update:

                                                              

The SP500 was sharply lower in again yesterday’s trading session reaching a low of 4395.34. In the overnight session the SP500 Futures are down by about 24 points!

 

We are now working on the assumption that our wave (v) ending diagonal triangle is complete at the failure high of 4748.87.

 

 Of course our only concern with this analysis is that we had the failure high.

 

Unless something different is going on with the SP500 has made a major multi-year top at the 4748.87 high and should be heading sharply lower for many years to come!

 

We are now short this market, heavily short!

                                                                                                                                                                                                                    

Trading Recommendation: Short at 4495, buying calls as stops.

                                                                                   

Active Positions: Heavily Short at 4495, calls as stops.

 

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422usd.png

 

Short Term Update:

 

The USDX moved sideways in Friday’s day session. In the overnight session we have moved higher reaching ahigh of 96.00!

 

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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2422oil.png

 

Short Term Update:

 

Crude was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 86.08!

 

Wave i is still underway as shown on our Daily Crude Chart, although our wave (iv) triangle formation has now been eliminated. It could be possible that our wave (iv) triangle is expanding and extending, with wave $b$ still underway, and possibly complete at the 87.08 high.

 

We will need to take another look at our internal wave count and provide an update in the days ahead.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

 

JAN 23 SPECIAL SP500 UPDATE!

SPECIAL UPDATE ON THE SP500 FROM CAPTAIN & EDITOR:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2022/01/ewjan2322sp.png

 

Long Term Update:

 

The SP500 was sharply lower this past week reaching low of 4395.74, closing at 4397.94!

 

It looks like our ending diagonal triangle formation ended a failure high at 4748.83, and wave V is now complete at the high.

 

The SP500 is now heading into a multi-year bear market as we have broken our Armageddon Support Line.

 

We are now heavily short this market and using calls as stops.  

 

Here’s a chart from Editor ST to go along with the Captain’s power chart:

https://captainewave.com/wp-content/uploads/2022/01/2022jan22capefun1.png

 

The CAPE (inflation-adjusted PE ratio for the SP500) is at nosebleed levels.  Bellweathers like the ARKK fund, Netflix, etc look like CHARTS OF DEATH.

 

THE BOTTOM LINE FOR THE CAPTAIN:

 

Active Positions: Heavily Short, with calls as stops!

 

Thanks!

Captain & Crew

 

JAN 23 WEEKLY CHARTS POST!

Captain Ewave Weekly Charts Post

 

Gold:

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2022/01/ewjan2322gold.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1848.50, closing at 1831.80!

                                                                          

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 it now looks like wave ^b^ is becoming more complex, although it may be complete at the 1848.50 high.

 

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.

 

On the Intraday Chart, starting from the wave .d. high of 1879.50, the wave ^a^ drop to 1753.00 looks impulsive and the rally from 1753.00 to the current high of 1848.50 looks corrective.

 

That is why we still believe that all of wave .e. is still not complete at the 1753.00 low.

 

Should gold keep rallying above the 1879.50 high then we will need to reconsider our current count, to something even more bullish! 

 

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 are 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/2022/01/ewjan2322si.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 24.75, closing at 24.32!  

                                                                  

We still believe that 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.

 

Within wave -v-, all of wave $a$ ended at 21.41 and it now looks like wave $b$ is becoming more complex, although it may be complete at the 24.72 high.

 

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.  

 

The other option is that wave -iv- has become more complex and in this case silver should continue to rally to at least the 25.47 high before all of wave -iv- ends. After wave -iv- ends we expect another drop in wave -v-, to complete all of wave ii.                                 

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was initially higher this past week reaching a high of 1.874% but we closed lower at 1.747%!

 

The multi-decade bear market in US interest is now over and ended at the 0.398% low.

 

Over the next couple of decades, we are 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*, perhaps at the 1.874% high.

 

Our internal wave count for all of wave *b* shows a double 3 wave correction pattern which we think is getting very close to completion.

 

After wave *b* ends we still expect a another drop in wave *c*, which has a minimum target of the wave *a* low of 1.218%. 

                                                         

Active Positions: Short risking to 1.900%!

 

Crude Oil:                                                                                     

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2022/01/ewjan2322oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 87.10, closing at 85.14!

 

Our current wave (iv) triangle was eliminated this week, as we traded above the wave -b- high of 85.41.

 

At the moment we do not have another count to offer, but it could be possible that our wave (iv) triangle is simply expanding which means that all wave -b- might have ended at the 87.10 high.

 

If that is the case then this market is getting ready to fall in wave -c-. More in the coming days.

 

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/2022/01/ewjan22322su.png

 

Long Term Update:

 

Suncor was initially higher this week reaching a high of 29.24 although we closed lower at 27.07!

 

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.

 

Wave (iii) appears to be subdividing with wave -i- of (iii) ending at the 26.97 high and all of wave -ii- at 22.22. Wave -iii- has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

We expect higher prices to continue now, with next resistance at the 34.56 level.

 

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

 

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2022/01/ewjan2322usd.png

Long Term Update:

 

The USDX was higher this past week reaching a high of 95.85, closing at 95.64!

 

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.

 

It now looks like wave (ii) did not end at the 96.94 high and we should expect one more rally above that high before all of wave (ii) ends.

 

Wave *iv* of -c- of (i) ended at the 94.61 low so we are rallying in wave *v* of -c- of (ii).

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2022/01/ewjan2322cdnx.png

 

Long Term Update:

 

The CDNX was sharply lower this past week reaching a low of 855.75, closing at 856.62!

 

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 updated our internal count for wave $ii$ to suggest that it has become double 3 wave corrective pattern that remains incomplete.

 

We should now be falling in our second wave (c) which has a minimum target of 847.92.

 

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/2022/01/ewjan2322gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 33.19, closing at 31.65!

 

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 we 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 and it looks like wave ^b^ is becoming more complex, though it could be complete at the 33.19 high.

 

After wave ^b^ ends we expect another drop in wave ^c^ 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/2022/01/ewjan2322bit.png

 

Long Term Update:

 

Bitcoin was sharply lower this past week reaching low of 34130, closing at 35336!

 

All of wave 1 or A is 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 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 at around 25000.

 

Wave 2 or B has become a flat correction.

 

After wave 2 or B ends we expect a sharp rally in wave 3 or C.

 

Active Positions: Flat!

 

Thanks!

Captain & Crew

 

JAN 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/2022/01/ewjan2122cdnx.png  

Short Term Update:

 

CDNX was initially higher in yesterday’s trading session reaching a high of 913.22, but after that high was made we moved lower reaching a low of 889.69, closing at 890.35!

 

We have now updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high.

 

We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high. If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

 

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/2022/01/ewjan2122gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2122gdxd.png  

Short Term Update:

 

The GDX was initially higher in yesterday’s trading session reaching a high of 33.19, but after that high was made we moved lower reaching low of 32.33 and closing on the low of 32.33!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high. We are now working on our second 3 wave pattern. All of wave ^b^ has the following retracement levels:

 

50% = 31.99.

61.8% = 32.72.

 

Within our second 3 wave pattern, we are rallying in wave $b$ which has now reached our 61.8% retracement level so we need to be on guard for its completion, possibly at the 32.94 high.

 

After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low to 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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan2122gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session reaching a high of 1848.50.

 

In the overnight session we have moved lower reaching a low of 1828.60!

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following last retracement levels:

 

78.6%= 1852.40.

 

Our last retracement level is the 78.6% level. We are now waiting for confirmation that all of wave ^b^ is complete at the 1848.50 high. After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan2122si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session reaching ahigh of 24.76. In the overnight session we have moved lower reaching a low of 24.33!

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the last retracement level of:

 

78.6%= 24.62.

 

We have now reached exceeded our 78.6% retracement level, which could be suggesting that silver is at least going to be heading back to the wave -iv- high of 25.49. This might be indicating that wave -iv- is still underway, as we have shown on our Daily Silver Chart. This option will be our Alternate Count.

 

If our current count to remain valid, wave $b$ must end and start moving lower 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.

 

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/2022/01/ewjan2122bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.765%!

 

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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.874% high. It looks like wave -ii- has become a irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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).   

 

We have decided to move our stops to the 1.900% level.                          

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2122spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2122sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply lower in again yesterday’s trading session reaching a low of 4477.95. In the overnight session the SP500 Futures are down by about 22 points!

 

Our current count is suggesting that wave (v) has become an ending diagonal triangle, which only need one more rally above the 4818.62 to be complete.

 

However we failed to hold the wave -ii- of (v) low of 4495.12, which is suggesting that all of wave -v- of (v) ended a as failure high at the 4748.87.

 

Of course our only concern is that we had the failure high.

 

Unless something different is going on the SP500 has made a major multi-year top at the 4748.87 high and will now be heading lower for many years to come.

 

We are now short this market!!

                                                                                                                                                                                                                    

Trading Recommendation: Short at 4495, buying calls as stops.

                                                                                   

Active Positions: Short at 4495, with calls as stops!

 

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2122usd.png  

Short Term Update:

 

The USDX was higher in yesterday’s day session reaching a high of 95.85. In the overnight session we have moved sideways currently trading at the 95.56 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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2122oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session reaching a high of 87.10. In the overnight session we moved lower reaching a low of 82.80, but after that low as made we moved higher currently trading at the 84.84 level!

 

Wave i is still underway as shown on our Daily Crude Chart, although our wave (iv) triangle formation has now been eliminated. On the Intraday Chart it looks like crude will still be moving higher.

 

We need to take another look at our internal wave count and provide an update in the days ahead.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

JAN 20 SP500 & GOLD ALERT!

 

Captain Ewave & Max McKegg:  Key SP500 and Gold Market Update!

 

The Captain has decided to go short the SP500 tonight!!

Please click here now for his 120Minute Chart:

https://captainewave.com/wp-content/uploads/2022/01/2022jan20capslap1.png

The danger of a “Wave Five Super Top” meltdown is extreme.

As always, the Captain suggests using call options to hedge the short SP500 contracts.

Editor’s Note: Fundamentalist “Supremo” Jeremy Grantham notes that the “bubble is ending”, and he calls for a 45% meltdown in the SP500!

We have a special guest chart and analysis tonight, from legendary FOREX Ewave specialist Max McKegg…  and it’s for gold!

Both the Captain & “Mighty Max” have the same big wave counts (a C wave in play) for gold, but Max sees a more IMMEDIATE blast higher!

Please click here now for the Mighty Max gold chart and analysis:

https://captainewave.com/wp-content/uploads/2022/01/2022jan20goldwave.png

If you want in on a special $399 for 6 months subscription special offer from Max, including a lot of intra-week alerts, shoot us an Email at admin@captainewave.com and we’ll make it happen!

Have a thrilling and mighty SP500 and gold market evening!

Thanks

Team Ewave & Crew

 

 

 

JAN 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/2022/01/ewjan2022cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 903.86, closing at 900.87!

 

We have now updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high. We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high. If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

 

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/2022/01/ewjan2022gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2022gdxd.png

 

Short Term Update:

 

The GDX was sharply higher in yesterday’s trading session reaching a high of 32.94, closing at 32.79!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high. We are now working on our second 3 wave pattern. All of wave ^b^ has the following retracement levels:

 

50% = 31.99.

61.8% = 32.72.

 

Within our second 3 wave pattern, we are rallying in wave $b$ which has now reached our 61.8% retracement level so we need to be on guard for its completion, possibly at the 32.94 high. After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low to 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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan2022gold.png

 

Short Term Update: 

 

Gold was sharply higher in yesterday’s day session and that trend higher has continued in the overnight session as we reached a high of 1847.40!

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following last retracement levels:

 

78.6%= 1852.40.

 

We have exceeded our 61.8% retracement level, so our last retracement level is the 78.6% level. Which is 1852.40. On the Intraday Chart the drop from 1843.90 to the overnight low of 1836.40 is corrective looking which is suggesting that after this small correction ends, gold will be moving above the 1843.90 level at least one more time before all of wave ^b^ ends.  

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan2022si.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 24.46!

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the last retracement level of:

 

78.6%= 24.62.

 

We have now reached exceeded our 61.8% retracement level. with our last retracement level being 78.6% which is 24.62. We need to be guard for the completion of wave $b$ and after wave $b$ ends we still expect 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.

 

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/2022/01/ewjan2022bond.png

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was initially higher in yesterday’s day session reaching a ahigh of 1.874%. After that high was made we moved lower reaching a low of 1.825%.

 

In the overnight session we have moved sideways currently trading at the 1.827% 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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.874% high. It looks like wave -ii- has become a irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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).   

 

We have decided to move our stops to the 1.900% level.                          

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2022spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2022sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply lower in again yesterday’s trading session reaching a low of 4530.20. 

 

In the overnight session the SP500 Futures are up by about 16 points!

 

Our current count is suggesting that wave (v) has become an ending diagonal triangle, which only needs one more rally above the 4818.62 to be complete.

 

Of course this ending diagonal triangle, like any triangle formation, could also expand and extend.

 

Within this ending diagonal triangle it looks like all or most of wave -iv- ended at the 4530.20 low and if that is the case then we should now see one final rally in wave -v- which should take the SP500 to all time new highs one more time before it collapses!

 

A break now below the 4495.12 low would suggest that all of wave -v- ended as a failure high at the 4748.43 high.

 

Wave (v) might take a week or so to develop. We are looking for a massive shorting opportunity and we will advise accordingly in the days ahead, although to play the failure high option we will short this market at 4495.00!

                                                                                                                                                                                                                      

Trading Recommendation: Short at 4495, buy calls as stops.

                                                                                   

Active Positions: Flat!

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan2022usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 95.41. In the overnight session we have moved sideways currently trading at the 95.55 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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan2022oil.png

 

Short Term Update:

 

Crude moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 85.32 level!

 

Wave i is still underway as shown on our Daily Crude Chart, although our wave (iv) triangle formation has now been eliminated. On the Intraday Chart it looks like crude will still be moving higher.

 

We will need to take another look at our internal wave count and provide an update in the days ahead.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

 

JAN 19 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/2022/01/ewjan19cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 889.27, closing at 890.86!

 

We have now updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high. We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high. If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

 

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/2022/01/ewjan1922gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 30.48, closing at 30.60!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart. Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high. We are now working on our second 3 wave pattern. All of wave ^b^ has the following retracement levels:

 

50% = 31.99.

61.8% = 32.72.

 

Within our second 3 wave pattern, it looks like all of wave $a$ ended at the 31.74 high, so we now expect to drop in wave $b$ which will be followed by another rally in wave $c$ to complete our second 3 wave corrective pattern and all of wave ^b^. After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low to complete all of wave *ii*.

 

It could also be possible that all of wave ^b^ is becoming a bearish triangle as shown on the 60 Min GDX Chart. This will be our alternate count for wave ^b^.

 

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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan1922gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1804.70. In the overnight session we have moved higher reaching a high of 1825.30!

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following retracement levels:

 

50% = 1816.30;

61.8% = 1831.20.

 

Our minimum target of the completion of wave ^b^ is 1832.80, the previous high.

 

We are also now watching the possible formation of a bearish triangle for all of wave ^b^. All that is missing is another rally that cannot exceed the 1829.00 for this triangle formation to remain valid. This triangle formation could expend and exceed also. This will be our alternate count for wave ^b^.

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan1922si.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 23.91!

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the following retracement levels:

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of all of wave $b$. After wave $b$ ends we still expect 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.

 

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/2022/01/ewjan1922bond.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 1.897!

 

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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.855% high. It looks like wave -ii- has become a irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply lower in yesterday’s trading session reaching a low of 4568.70. In the overnight session the SP500 Futures are up by about 22 points.

 

We have adopted our alternate count as preferred. This count is suggesting that wave (v) has become an ending diagonal triangle, which only need one more rally above the 4818.62 to be complete. Of course this ending diagonal triangle, like any triangle formation, could also expand and extend.

 

Within this ending diagonal triangle it looks like all or most of wave -iv- ended at the 4568.70 low and if that is the case then we should now see one final rally in wave -v- which should take the SP500 to all time new highs one more time before it collapses.

 

Wave (v) might take a week or so to develop. We are looking for a massive shorting opportunity and we will advise accordingly in the days ahead.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922usd.png  

Short Term Update:

 

The USDX was higher in yesterday’s day session reaching ahigh of 95.81. In the overnight session we have moved lower reaching a low of 95.49!

 

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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 86.41!

 

Wave i is still underway as shown on our Daily Crude Chart, although our wave (iv) triangle formation has now been eliminated.

 

We will need to take another look at our internal wave count and provide an update in the days ahead.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

 

JAN 18 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/2022/01/ewjan1822cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 909.71 and closing on its high of 909.71!

 

We have now updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high. We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high. If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

 

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/2022/01/ewjan1822gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822gdxd.png

 

Short Term Update:

 

The GDX was lower in Friday’s trading session reaching a low of 30.73, closing at 30.97!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart. Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high. We are now working on our second 3 wave pattern.

 

All of wave ^b^ has the following retracement levels:

 

50% = 31.99.

61.8% = 32.72.

 

Within our second 3 wave pattern, it looks like all of wave $a$ ended at the 31.74 high, so we not expect to drop in wave $b$ which will be followed by another rally in wave $c$ to complete our second 3 wave corrective pattern and all of wave ^b^. After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low to 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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan1822gold.png

 

Short Term Update: 

 

Gold was initially marginally higher in Friday’s day session reaching a high of 1829.30. After that high was made we moved lower and that trend lower has continued in the overnight session as we have reached a low of 1808.60!

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following retracement levels:

 

50% = 1816.30;

61.8% = 1831.20.

 

Our minimum target of the completion of wave ^b^ is 1832.80, the previous high.

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan1822si.png  

 

Short Term Update:

 

Silver was lower in Friday’s day session and that trend low has continued in the overnight session as we have reached a low of 22.82!

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the following retracement levels:

 

50% = 23.45;

61.8% = 23.93.

 

After wave $b$ ends we still expect 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.

 

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/2022/01/ewjan1822bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.855%!

 

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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.855% high. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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).   

 

We have decided to move our stops to the 1.900% level.                          

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822sp1d.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822sp120.png

 

Short Term Update:

                                                              

The SP500 was initially lower in Friday’s trading session reaching a low of 4614.75, although we closed marginally higher at 4662.85. 

 

In the overnight session the SP500 Futures are sharply lower by about 43.00 points!

 

We have adopted our alternate count as preferred!

 

This count is suggesting that wave (v) has become an ending diagonal triangle, which only need one more rally above the 4818.62 to be complete.

 

Of course this ending diagonal triangle, like any triangle formation, could also expand and extend.

 

If this is what wave (v) is doing then a major top in the SP500 may only be a week or so away. We are looking for a massive shorting opportunity. we will advise accordingly in the days ahead.

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822usd.png  

Short Term Update:

 

The USDX was higher in Friday’s day session and that trend higher has continued in the overnight session we have reached a high of 95.48!

 

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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822oil.png

 

Short Term Update:

 

Crude was higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 85.16!

 

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.

 

We are now rallying in wave $d$, which maybe complete at the 84.45 high. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.  

 

After wave $d$ ends we expect one more drop in wave $e$ to complete all of our multi-month wave (iv) bullish triangle. Wave $e$ can drop as low as the wave $c$ low of 62.43.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

 

JAN 17 US HOLIDAY POST

Captain Ewave US Holiday 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/2022/01/ewjan1722cdnx.png

 

Short Term Update:

 

CDNX was lower in Friday’s trading session reaching a low of 893.52, closing at 902.81!

 

We have now updated our current count to suggest that all of wave -ii- of .iii. is still underway, with the following retracement levels:

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high.

 

We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 948.27 high.

 

If that is the case then we are now falling in our second wave (c), which has a minimum target of the first wave (c) which is 847.92.

 

We will provide an updated initial projection for the end of wave -iii-. when we believe that all of wave -ii- is complete.

 

We continue to expect lower prices as we work on our second wave (c) drop.                                                                                                                     

 

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/2022/01/ewjan1722gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1722gdxd.png

 

Short Term Update:

 

The GDX was lower in Friday’s trading session reaching a low of 30.73, closing at 30.97!

 

Wave *ii* is still underway and is becoming 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 completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

Wave ^b^ looks to have become a double 3 wave corrective pattern with the first pattern ending at the 32.08 high. We are now working on our second 3 wave pattern. All of wave ^b^ has the following retracement levels:

 

50% = 31.99.

61.8% = 32.72.

 

Within our second 3 wave pattern, after wave $a$ ends we expect a drop in wave $b$ to be followed by another rally in wave $c$ to complete our second 3 wave corrective pattern and all of wave ^b^. After wave ^b^ ends we still expect another drop in wave ^c^ to at least the 28.83 low to 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.

 

More updates on Gold Stocks and Indices 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 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/2022/01/ewjan1722gold.png

 

Short Term Update: 

 

Gold was initially marginally higher in Friday’s day session reaching a high of 1829.30. After that high was made we moved lower.

 

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 continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and it now looks like wave ^b^ has become more complex and is still underway, with the following retracement levels:

 

50% = 1816.30;

61.8% = 1831.20.

 

Our minimum target of the completion of wave ^b^ is 1832.80, the previous high.

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will 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.

 

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.

 

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/2022/01/ewjan1722si.png

 

Short Term Update:

 

Silver was lower in Friday’s day session.

 

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-, all of wave $a$ ended at the 21.41 low and it now looks like wave $b$ is becoming more complex and is still underway. Wave $b$ has the following retracement levels:

 

50% = 23.45;

61.8% = 23.93.

 

After wave $b$ ends we still expect 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.

 

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/2022/01/ewjan1722bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in Friday’s day session!

 

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.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*.

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.808% high.

 

It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop 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).   

 

We have decided to move our stops to the 1.900% level.                          

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1722spd.png  

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1722sp120.png

 

Short Term Update:

                                                              

The SP500 was initially lower in Friday’s trading session reaching a low of 4614.75, although we closed marginally higher at 4662.85. 

 

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). It appears that the Armageddon Support Line is being challenged again. It is now clear a solid weekly break and close below this will line indicate that major top has been made in the SP500.

 

Note the Alternate Count for wave (v) on the 120 min SP500 Chart. This count is suggesting that wave (v) has become an ending diagonal triangle formation. In it current form we only need one more high above the 4744.13 all time high to complete the pattern. Of course this ending diagonal triangle, like any triangle formation, could also expand and extend. If this is what wave (v) is doing then a major top in the SP500 may only be a week or so away.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1722usd.png

 

Short Term Update:

 

The USDX was higher in Friday’s day session.

 

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:

 

50% = 96.57;

61.8% = 98.31.

 

We have now subdivided wave -c- of (ii) on our Daily USDX Chart and it looks like within wave -c-, all of wave *iii* ended at the 96.84 high and that the current drop is wave *iv*. Our retracement levels for all of wave *iv* are:

 

23.6% = 95.73;

38.2% = 94.98.

 

We have now exceeded our 38.2% retracement level so we need to be guard for the completion of wave *iv*, which may have occurred at the 94.61 low, and the start of another rally in wave *v*.  Our minimum target for the end of wave *v* is the wave *iii* high of 96.84.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii). We will look to short this market at the end of wave (ii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1722oil.png

 

Short Term Update:

 

Crude was higher in Friday’s day session reaching a high of 84.45.  

 

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.

 

We are now rallying in wave $d$, which maybe complete at the 84.45 high. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.  

 

After wave $d$ ends we expect one more drop in wave $e$ to complete all of our multi-month wave (iv) bullish triangle. Wave $e$ can drop as low as the wave $c$ low of 62.43.

 

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 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

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

 

JAN 16 SPECIAL EWAVE GUEST!

Max is introducing his subs (including 50 banks as paid clients) to the Captain...

so we introduce Max to you...

Introducing Max McKegg  –  FX Analyst and Trader

Max is a fellow Technical Analyst/Trader (based in New Zealand) who has been professionally engaged in the forex market for over 3 decades. Max utilizes a combination of Elliott Wave and classical charting patterns in his work & is kindly offering a complimentary Trial of his FX Service to all my subscribers.

Simply email Max at: max@enterprise.net.nz  or the Captain at admin@captainewave.com saying that you are a Captain EWave subscriber.

Please note that I receive no compensation whatsoever in making this introduction. The reason I am doing this is to give members access to another useful information source;

as good information and our is a foundation for long term trading success!

Sample enclosed!

thanks!

Captain & Crew