Category Archives: Weekly Charts Post

JULY 25 WEEKLY CHARTS POST!

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul25gold1.png

 

Long Term Update:

 

Gold was lower this past week reaching a low of 1789.10, closing at 1801.80.

                                                                          

We made revisions to our current long term gold count, as shown on our Weekly Gold Chart….

 

And will have the monthly chart updated this week!

 

Longer term we are still rallying in wave (3) of 3, but now believe that we are still rallying in wave iii of (3), and within wave iii, we think that we likely completed a large bullish triangle at the recent low.

 

If that is the case then we are in the initial stages of a very large thrust higher in wave (v) of iii. Our next [projection for the end of wave (iii) is:

 

(iii) = 2.618(i) = 2535.10.

 

Of course triangles can always expand and extend, but for now we will assume that all of wave (iv) is complete at the 1750.10 low.

 

We will update our Daily Gold Chart to reflect this new wave (iv) bullish triangle for Monday’s post.

 

Gold may have completed its current correction at 1790.10 low, and if that is the case we should now start moving higher.                                  

 

Active Positions: Long with puts as stops!              

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421si1.png

 

Long Term Update:

 

Silver was lower this past week reaching a low of 24.79, closing at 25.23. 

                                                                  

We are now working on the assumption that we are still working on wave i of 3, and within wave i we have moving sideways over the last the year in a bullish wave (iv) triangle that is almost complete as shown on the Weekly Silver Chart.

 

We have now satisfied the minimum requirements for its completion at the 24.79 low. Of course this triangle could also expand and extend, which would only occur if we continued to drop back to the 23.74 low.

 

After wave (iv) ends we expect a very sharp thrust higher in wave (v), which has projected a length of $8 to $10.                                                

 

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 sharply lower this past week reaching a low of 1.128%, closing at 1.286%!

 

The multi-decade bear market in US interest is now over as it ended at the 0.398% low. Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s. This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence.

 

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

 

50% = 1.130%

61.8% -= 0.99%

 

We have reached our minimum retracement level so we need to be on guard for the completion of wave *iii* and the start of sharp rally higher in wave *iii*. We will provide our first projection for the end of wave *iii* when we believe that all of wave *ii* is complete.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421oil.png

 

Long Term Update:                                                                          

             

Crude was initially sharply lower again this past week reaching a low of 65.01, but we recovered all of those losses to close higher at 72.07!

 

We continue to work on wave i of C and within wave i, we completed all of wave (iii) of i at 67.98, and we now believe we are working on an expanding wave (iv) bullish triangle as shown on our Daily Crude Chart.

 

Within that bullish triangle we completed wave $c$ at 65.01 and are now rallying in wave $d$. After wave $d$ ends we expect another drop in wave $e$ to complete all of wave (iv).

 

After wave (iv) ends we expect a sharp thrust higher in wave (v) to then complete all of wave i.

 

The size of the wave $iv$ triangle is suggesting a possible wave (v) thrust that see crude reach the $95/100 range, before we get our wave ii setback.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul25su.png

 

Long Term Update:

 

Suncor was initially lower past week reaching a low of 19.56, closing at 20.81!

 

We have updated our count to now suggest that wave iii is subdividing and within that wave we likely completed all of wave (i0 at the 25.73 high. If that is the case we are now falling in wave (ii) which has the following retracement levels:

 

50% = 18.20;

61.8% = 16.42.

 

The current low for this correction is 19.56, which is still short of our 50 % retracement level I suggesting that perhaps all of wave (ii) is still not complete the 19.56 low.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421sp.png

 

Long Term Update:

 

The SP500 was initially sharply lower this past week reaching a low of 4233.18, but by the end of the week we had recovered all of those losses to have reached another all-time high of 4415.18, closing at 4411.79!

 

It now appears that wave (iii) is extending and our next projected endpoint for its completion is:

 

(iii) = 2.618(i) = 4767.12

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421usd.png

 

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 93.19, closing at 92.93!

 

We have now adopted our bearish wave *iv* of -iii- triangle option as our preferred count. This is shown on our Daily USDX Chart.

 

A break of the 93.47 high would only suggest that this triangle option is expanding and extending.

 

On the Intraday Chart we are also watching a ending diagonal triangle formation within wave $e$ of *iv* which may be complete at the 93.20 high. If it is then we should star to move lower in wave *v* of -iii- now.

 

Our next projection for the end of wave -iii- is:

 

-iii- = 2.618-i- = 86.26.

 

Active Positions: Short risking to 93.50!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421cdnx.png

 

Long Term Update:

 

The CDNX was initially sharply lower this past week reaching a low of 868.48, closing at 902.56.

 

It appears that wave -iii- is still underway, although we so far have not reached our minimum target for wave (c) of -iii-, which is the wave (a) low of 867.26.

 

A trade now above 918.97 low, would confirm to us that all of wave -ii- is complete at the 868.40 low, that we have finally stated to rally higher in wave -iii-.

 

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

 

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

 

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

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421gdx.png

 

Long Term Update:

 

The GDX was lower this past week reaching a low of 32.87, closing at 33.15!

 

Longer term we are rallying higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

It looks like that within wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ should now be complete at the 32.87 low. We will provide our first projection for the end of wave ^iii^ when e believe that all of wave ^ii^ is complete.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

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

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul2421bit.png

Long Term Update:

 

Bitcoin was initially lower this past week reaching a low of 29320, although we closed higher at 33965!

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence which could now be complete at the 28908 low, although on the Daily Bitcoin Chart we are watching a continuation of a bearish triangle formation as it may still be developing.

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

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

 

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

 

Thanks!

Captain & Crew

 

JULY 18 WEEKLY CHARTS POST

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821gold.png

 

Long Term Update:

 

Gold this past week reached a high of 1835.00, closing marginally higher at 1815.00.

                                                                          

Wave (ii) may now be complete at the 1750.10 low.

 

On the Intraday Chart we appear to be rallying out of the 1750.10 low in an impulsive fashion which does not appear to be complete at the 1835.00 high, so we should see higher prices earlier next week.       

 

Next major resistance is back at the 1919.00 high.

 

We will provide our initial projections for the end of wave (iii) likely next week.

 

The USDX is likely breaking lower now in an ending diagonal triangle formation which is bullish for gold and silver.                                          

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops.  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821si.png

 

Long Term Update:

 

Silver was lower this past week reaching a low of 25.64, closing at 25.80.

                                                                  

We updated the internal wave count for all of wave i to now suggest that the sideways trading over the last the year is a bullish triangle that is almost complete as shown on the Weekly Silver Chart.

 

Unfortunately, it looks like we need one more drop below the 25.58 low to complete the minimum requirements for this pattern to become complete, unless it extends and expands.

 

This bullish triangle is wave (iv) and within wave (iv) we are now working on wave -e-. more details within wave -e- has been shown on our Daily Silver Chart. After wave (iv) ends we expect a very sharp thrust higher in wave (v), which has projected a length of $8 to $10.                                                

 

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 sharply higher this past week reaching a high of 1.420%, but by the end of the week we had closed significantly off that high at 1.300%!

 

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

 

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

 

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

 

We expect to move higher as we head toward the 1.910% level. Within wave (iii) we completed wave *iii* at 1.765% and are still working on our wave *iv* correction. After wave *iv* ends we expect a wave *v* rally to complete all of wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821oil.png

 

Long Term Update:                                                                          

             

Crude was sharply lower this past week reaching a low of 70.16, closing at 71.56!

 

We continue to work on wave i of C and within wave i, we completed all of wave (iii) of i at 67.98, and all of wave (iv) as a bullish triangle at 58.73.

 

We are now rallying in wave (v) of i, which still appears incomplete!

 

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

 

Within wave (v), we may NOW have completed all of wave $iv$ at the 70.16 low, although wave $iv$ could still become more complex and even a bullish triangle formation.

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821su.png

 

Long Term Update:

 

Suncor was lower past week reaching a low of 20.86, closing at 20.98!

 

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

 

iii = 2.618i = 42.40.

 

Within wave (i) of iii it looks like wave -iii- ended at the 25.73 and wave -iv- at 20.86. We should start rallying in wave -v- of (i) very soon. After wave (i) ends we expect a drop in wave (ii) which should retrace between 23.6 to 38.2% of the entire wave (i) rally.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821spw.png

 

Long Term Update:

 

The SP500 was initially higher this past week reaching another all-time high at 4393.68, although we closed lower at 4327.16!

 

It still appears that wave (iii) is extending and our next projected endpoint for its completion is:

 

(iii) = 2.618(i) = 4767.12

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul18218usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 92.83, closing at 92.69!

 

It looks like within wave -v-, wave *i* ended at 89.52, and if that is the case we are now rallying in wave *ii*.

 

We are watching an ending diagonal triangle formation on the Daily USDX Chart, that may now be complete at the 92.84 high, although on the Intraday Chart it looks like we might make one more new high above 92.84, before this ending diagonal triangle formation actually ends.

 

A break now below the 92.00 will confirm that it is complete at the 92.84 high. Then, we should expect the USDX to start to drop in wave *iii*. We will provide our first projected endpoint for wave *iii* next week.

 

We are still watching the very bearish triangle formation alternate count as shown on our Daily USDX Chart, which remains valid and if this is the path that the USDX is following then the USDX is heading sharply lower, which would support much higher gold and silver prices.

 

Active Positions: Short risking to 93.50!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821cdnx.png

 

Long Term Update:

 

The CDNX was sharply lower this past week reaching a low of 906.78, closing at 908.31.

 

It is starting to appear that all of wave $ii$ is NOT complete at the 902.36 low. If that is the case then we will likely revisit this low again early next week before all of wave $ii$ actually ends.

 

After that wave $iii$ ends we should start to rally higher again in wave $iii$. We will provide our first projection for the end of wave $iii$ when we believe all of wave $ii$ is complete.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long term hold.

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821gdx.png

 

Long Term Update:

 

The GDX was initially higher this past week reaching a high of 35.16, although we closed lower at 33.92.

 

Longer term we are rallying higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

It looks like that within wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ should now be complete at the 33.30 low.

 

We will provide our first projection for the end of wave ^iii^ likely next week as we expect that our wave ^iii^ rally is still just getting started.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                              

 

We do have higher targets also.

 

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

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1821bit.png

Long Term Update:

 

Bitcoin was lower this past week reaching a low of 31046, closing at 31672.

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence which could now be complete at the 28908 low, although on the Daily Bitcoin Chart we are watching a continuation of a bearish triangle formation as it may still be developing.

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

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

 

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

 

Thanks!

Captain & Crew

 

JULY 11 WEEKLY CHARTS POST!

                           Weekend Post

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1021gold.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1819.50, closing at 1810.60!

                                                                          

Wave (ii) may now be complete at the 1750.10 low.

 

On the Intraday Chart we appear to be rallying out of the 1750.10 low in an impulsive fashion which does not appear over at the 1819.00 high, so we should see higher prices earlier next week.

 

In fact, on the same Intraday Chary from the 1815.70 high we appear to be working on a bullish triangle that is almost complete.

 

If this observation is correct then once this bullish triangle ends we should see a thrust higher of about $30 plus based on the size of the current triangle formation.      

 

Next resistance is back at the 1919.00 high.

 

We will provide our initial projections for the end of wave (iii) likely next week.

 

The USDX is likely breaking lower now in an ending diagonal triangle formation that is bullish for gold and silver.                                          

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops. We added to our longs!

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121si.png

 

Long Term Update:

 

Silver was initially higher this past week reaching a high of 26.91, but we closed lower at 26.23.

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

Within wave (iii), we completed wave -i- at 28.90 and likely all of wave -ii- at the 25.58 low. If that is the case we are now starting to rally higher again in wave -iii-.   

 

We are still waiting for confirmation that all of wave -ii- is complete at the 25.58 low. We will provide our first projections for the end of wave -iii- likely next week.                                                 

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop. We added to our long on Friday.

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield were sharply lower this past week reaching a low of 1.268%, closing at 1.1356%!

 

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

 

Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s.

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence.

 

Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

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

 

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

 

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

 

Active Positions: Flat!

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121oil.png

 

Long Term Update:                                                                          

             

Crude was initially sharply lower this past week reaching a low of 70.76, although by the end of week we had recovered most of those losses to only close marginally lower at 74.56.

 

We continue to work on wave i of C and within wave i, we completed all of wave (iii) of i at 67.98, and all of wave (iv) as a bullish triangle at 58.73. We are now rallying in wave (v) of i, which appears incomplete. A continuation of this rally to at least the 76.90 level appears likely.

 

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

 

Within wave (v), we may have completed all of wave $iv$ at the 70.76 low, although the time to it took to develop seemed to be a bit short, so wave $iv$ could still be underway as a bullish triangle formation.

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121su.png

 

Long Term Update:

 

Suncor was lower past week reaching a low of 22.53, closing at 23.27!

 

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

 

iii = 2.618i = 42.40.

 

Within wave (i) of iii it looks like wave -iii- ended at the 25.73 and wave -iv- at 22.53. We should now be rallying in wave -v- of (i). After wave (i) ends we expect a drop in wave (ii) which should retrace between 23.6 to 38.2% of the entire wave (i) rally.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4371.60, closing at 4369.55!

 

It now appears that wave (iii) is extending and our next projected endpoint for its completion is:

 

(iii) = 2.618(i) = 4767.12

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121usd.png

 

Long Term Update:

 

The USDX was initially higher this past week reaching a high of 92.84, although we closed lower at 92.12!

 

It looks like within wave -v-, wave *i* ended at 89.52, and if that is the case we are now rallying in wave *ii*.

 

We are watching an ending diagonal triangle formation on the Daily USDX Chart, that may now be complete at the 92.84 high. A break now below the 92.00 will confirm that it is complete at the 92.84 high.

 

If that is the case then we should expect the USDX to start to drop in wave *iii*. We will provide our first projected endpoint for wave *ii* next week.

 

We are still watching the very bearish triangle formation alternate count as shown on our Daily USDX Chart, which remains valid and if this is the path that the USDX is following then the USDX is heading sharply lower, which would support much higher gold and silver prices.

 

Active Positions: Short risking to 93.50!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121cdnx.png

 

Long Term Update:

 

The CDNX was lower this past week reaching a low of 918.97, closing at 938.47.

 

It appears that wave $ii$ is now complete at the 902.36 low.

 

If that is the case then we should start to rally sharply higher in wave $iii$, and within wave $iii$, wave *i* ended at 981.88 and all or most of wave *ii* at the 918.97 low.

 

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

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, AND KEY JUNIORS, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121gdx.png

 

Long Term Update:

 

The GDX was lower this past week reaching a low of 33.38, but we recovered most of those early losses to close only marginally lower at 34.37!

 

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

 

*iii* = 1.618*i*= 78.63.

 

It look like that with wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ should now be complete at the 33.30 low.

 

We will provide our first projection for the end of wave ^iii^ likely next week as we expect that our wave ^iii^ rally is just getting started.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                  

 

We do have higher targets also.

 

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

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul1121bit.png

Long Term Update:

 

Bitcoin was lower this past week reaching a low of 32109, closing at 33733!

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence which could now be complete at the 28908 low, although on the Daily Bitcoin Chart we are watching a continuation of a bearish triangle formation still developing.

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

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

 

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

 

Thanks!

Captain & Crew

 

JUL 4 WEEKLY CHARTS POST!

 

Note: No Post Tomorrow Morning due to July 4th Holiday Weekend in the USA.

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421gold1.png  

Long Term Update:

 

Gold was initially lower this past week reaching a low of 1750.10, but we closed higher at 1783.30!

                                                                          

Within wave ^iii^, wave (i) ended at 19191.20 high and if that is the case then we are now falling in wave (ii), which may now be complete at the 1750.10 low.

We did have a (small) Key Weekly Reversal higher this past week, which might the signal that all of wave (ii) is now complete at the 1750.10 low.     

 

Last week our small bearish triangle formation end and we got our thrust lower to the 1750.10 low.

 

We will want to see a rally above the 1797.50 price... To confirm that all of wave (ii) is now complete.

 

We will provide our initial projections for the end of wave (iii) in the next couple of days.

 

We also note that the USDX had a Key Daily Reversal lower in Friday also, which might be a good sign for the gold bulls.        

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops. We are adding to our longs again! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421si1.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 26.70, closing at 26.50!  

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

Within wave (iii), we completed wave -i- at 28.90 and likely all of wave -ii- at the 25.58 low. If that is the case we are now starting to rally higher again in wave -iii-.   

 

We completed our small bearish triangle formation and reached a low of 25.58 with the thrust lower.

 

We have also now rallied above the 26.55 high, which is suggesting that all of wave -ii- is now complete at the 25.58 low.

 

We will provide our first projections for the end of wave -iii- shortly!                             

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop. We added to our long on Friday.

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was lower this past week reaching a low of 1.426%, closing at 1.431%.

 

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

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence.

 

Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

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

 

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

 

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

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421oil.png  

 

Long Term Update:                                                                          

             

Crude was sharply higher this past week reaching a high of 76.22, closing at 75.16!

 

We continue to work on wave i of C and within wave i, we completed all of wave (iii) of i at 67.98, and all of wave (iv) as a bullish triangle at 58.73. We are now rallying in wave (v) of i, which appears incomplete.

 

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

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421su.png

 

Long Term Update:

 

Suncor moved sideways this past week, but closed lower at 23.93!

 

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

 

iii = 2.618i = 42.40.

 

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

 

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

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421spw.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4355.23, closing at 4352.34!

 

It now appears that wave (iii) is extending and our next projected endpoint for its completion is:

 

(iii) = 2.618(i) = 4767.12

 

 

We have exited our short positions, with minimal damage due to the put options.

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 92.76, closing at 92.41!

 

It looks like within wave -v-, wave *i* ended at 89.52, and if that is the case we are now rallying in wave *ii*. This week the high is at the 78.6% retracement level and we also had a Key Daily Reversal lower on Friday.

 

We believe that all of wave *ii* is now complete at the 92.76 high and we should now expect the USDX to start to drop in wave *iii*. We will provide our first projected endpoint for wave *ii* in next couple of days.

 

We are still watching the very bearish triangle formation alternate count as shown on our Daily USDX Chart also.

 

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

 

Active Positions/Recomm: Go Short risking to 93.50!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421cdnx.png

 

Long Term Update:

 

The CDNX was higher this past week reaching a high of 968.39 and closing on its high of 968.39!

 

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

 

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

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

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

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421gdx.png

 

Long Term Update:

 

The GDX was initially lower this past week reaching a low of 33.30, but we closed marginally higher at 34.42!

 

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

 

*iii* = 1.618*i*= 78.63.

 

It look like that with wave *iii* all of wave ^i^ ended at the 39.88 high and all or most of wave ^ii^ should now be complete at the 33.30 low. We will provide our first projection for the end of wave ^iii^ in the next couple of day, as we expect that our wave ^iii^ rally is now underway.

 

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… Subs can add to your long positions this week also.

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/07/ewjul421bit.png

 

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 36626, closing at 35421!

 

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

 

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

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly. On the Daily Chart it looks like from the 64860 high we are falling in an impulsive sequence which could now be complete at the 28908 low.

 

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

 

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

 

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

 

 

Thanks!

Captain & Crew

 

JUNE 27 WEEKLY CHARTS POST!

Gold: 

 

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

 

Long Term Update:

 

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

                                                                          

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

 

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

 

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

 

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

 

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

 

^iii^ = 1.618^i^ = 2687.80!

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops! 

 

Silver:

 

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

 

Long Term Update:

 

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

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

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

 

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

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Active Positions: Flat.

 

Crude Oil:

 

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

 

Long Term Update:                                                                          

             

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

 

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

 

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

 

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

 

(iii) = 1.618(i) = 93.96.

 

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

 `

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

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

 

Long Term Update:

 

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

 

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

 

iii = 2.618i = 42.40.

 

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

 

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

 

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

 

SP500:

 

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

 

Long Term Update:

 

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

 

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

 

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

 

23.6% = 3889.53;

38.2% = 3674.95.

 

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

 

Active Positions: Short with calls as stops!

 

USDX:

 

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

 

Long Term Update:

 

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

 

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

 

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

 

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

 

Active Positions: Flat!

 

CDNX: 

 

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

 

Long Term Update:

 

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

 

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

 

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

 

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

 

.iii. = 1.618.i. = 1357.02!    

 

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

 

-iii- =1.618-i- = 1592.50!                          

 

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

 

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

 

GDX: 

 

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

Long Term Update:

 

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

 

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

 

*iii* = 1.618*i*= 78.63.

 

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

 

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

 

Our current projection for the end of 3 is:

 

 3 = 2.618 (-1-) = 66.37.                                                  

 

We do have higher targets also.

 

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

 

Bitcoin: 

  

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

 

Long Term Update:

 

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

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

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

 

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

 

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

 

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

 

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

 

Thanks!

Captain & Crew

 

JUNE 20 WEEKLY CHARTS POST!

Weekly Charts Post!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021gold.png

 

Long Term Update:

 

Gold was sharply lower this past week reaching a low of 1761.20, closing at 1769.00.

                                                                          

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

 

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

 

We bought more gold on Friday!                                              

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops.

 

 We added to our longs on Friday!!

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021si.png

 

Long Term Update:

 

Silver was sharply lower this past week reaching a low of 25.77, closing at 25.97.

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

Within wave (iii), we now appear to have completed wave -i- at 28.90 and all or most of wave -ii- at the 25.77 low. Our 61.8% retracement for all of wave -ii- is 25.74, so we need to be guard for the completion of wave -ii-, and the start of a sharp rally in wave -iii-.   

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop. We added to our longs on Friday.

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was lower this past week reaching a lower of 1.438%, closing at 1.450%!

 

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

 

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

 

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

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. Within wave (iii) we completed wave *iii* at 1.765% and are still working on our wave *iv* correction. After wave *iv* ends we expect a wave *v* rally to complete all of wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021oil.png

 

Long Term Update:                                                                          

             

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

 

We still think that we are working on a complex wave -ii- correction that has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

The rally from 57.25 to the current high of the current high of 71.24 does not look impulsive which is suggesting lower prices lie head, after this rally ends. We are still short of retracement levels for our wave -ii- correction, so we still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021su.png  

 

Long Term Update:

 

Suncor was initially higher past week reaching a high of 26.73, but we closed lower sharply lower at 23.39.

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4257.16, although we closed lower at 4166.45.

 

From the 3723.34 low we have now completed the minimum requirements for a completed 5 wave impulsive sequence at the 4238.04 high, and we are now working on the assumption that all of wave (iii) of v is complete at that high. We should therefore be falling in complex wave (iv) correction, which has the following retracement levels;

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is starting to look like wave (iv) has become a flat correction, which we will discuss more in our Monday Morning Post.

 

Active Positions: Short with calls as stops.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/06/2021jun2021usd.png

 

Long Term Update:

 

The USDX was sharply higher this past week reaching a high of 92.39, closing at 92.21!

 

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

 

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

 

The other option is that wave -iv- is becoming a bearish triangle, which we will discuss in more detail in our Monday Morning Post.

 

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

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021cdnx.png

 

Long Term Update:

 

The CDNX was initially marginally higher this past week reaching a high of 982.22, but we closed lower at 946.83!

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$, and within wave $iii$, wave *i* ended at 981.88 and all or most of wave *ii* at the 939.49 low.

 

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

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021gdx.png

 

Long Term Update:

 

The GDX was sharply lower this past week reaching a low of 34.10, closing at 34.13.

 

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

 

*iii* = 1.618*i*= 78.63.

 

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

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

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

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun2021bit.png

Long Term Update:

 

Bitcoin was initially higher this past week reaching a high of 41307, but we closed lower at 34197!

 

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

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly. On the Daily Chart it looks like form the 64860 high we are falling in an impulsive sequence which does NOT look to be complete at the 29925 low.

 

We need one more drop below that low to satisfy all of the minimum requirement for our first impulsive sequence to be complete. After that happens we would have completed all of wave (a).

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

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

 

Thanks!

Captain & Crew

 

JUN 13 WEEKLY CHARTS POST!

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun13gold.png

 

Long Term Update:

 

Gold was lower this past week reaching a low of 1871.80, closing at 1879.60!

                                                                          

We continue to rally sharply higher in wave ^iii^. Within wave ^iii^ we are working on wave -iii-, which has a projected endpoint of:                                                                       

 

-iii- = 4.25-i- = 1952.40.

 

Within wave -iii-, we completed wave $iii$ at the 1915.60 high and likely all of wave $iv$ at the 1855.60 low. If that is the case we are now starting to rally higher in wave $v$ of -iii-.

 

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

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321siw.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 28.44, closing at 28.15!  

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

We are likely still working on wave *i* of -iii-.  

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was sharply lower this past week reaching a lower of 1.450%, closing at 1.462%.

 

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

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence.

 

Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

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

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. Within wave (iii) we completed wave *iii* at 1.765% and are still working on our wave *iv* correction. After wave *iv* ends we expect a wave *v* rally to complete all of wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 71.24, closing at 70.91!

 

We still think that we are working on a complex wave -ii- correction that has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

The rally from 57.25 to the current high of the current high of 71.24 does not look impulsive which is suggesting lower prices lie head, after this rally ends. We are still short of retracement levels for our wave -ii- correction, so we still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321su.png

 

Long Term Update:

 

Suncor was lower this past week reaching a low of 24.73, closing at 24.98!

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321spw.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4249.74, closing at 4247.44!

 

From the 3723.34 low we have now completed the minimum requirements for a completed 5 wave impulsive sequence at the 4238.04 high, and we are now working on the assumption that all of wave (iii) of v is complete at that high. We should therefore be falling in complex wave (iv) correction, which has the following retracement levels;

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is too early to determine which type of corrective pattern wave (iv) is going to become.

 

Active Positions: Short with calls as stops!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 90.61, closing at 90.55!

 

We continue to move lower in wave -v-. Expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321cdns.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 981.88, closing at 979.70!

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$. We will provide your first projections for the end of wave $iii$, when we believe all of the wave $ii$ is complete.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321gdx.png

 

Long Term Update:

 

The GDX was marginally lower this past week reaching a low of 37.97, closing at 38.28.

 

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

 

*iii* = 1.618*i*= 78.63.

 

We updated our internal count for wave -iii- to suggest that all of wave $iii$ ended at the 40.13, and also all of wave $iv$ at the 38.01 low. If that is the case we should now be rallying in wave $v$ of -iii-, which has the following projected endpoint:

 

-iii- =2.618-i- = 41.70.

 

Expect higher prices this week!

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions at 31.50!

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun1321bit.png

 

Long Term Update:

 

Bitcoin was initially lower this past week reaching a low of 31034, although we closed higher at 35945.

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

On the Daily Chart it looks like form the 64860 high we are falling in an impulsive sequence which does NOT look to be complete at the 29925 low.

 

We need one more drop below that low to satisfy all of the minimum requirement for our first impulsive sequence to be complete.

 

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

 

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

 

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

 

Thanks!

Captain & Crew

 

JUNE 6 WEEKLY CHARTS POST!

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621gold.png

 

Long Term Update:

 

Gold was initially higher this past week reaching a high of 1919.20, although after that high was made, we moved lower reaching a low of 1855.60.

 

We closed lower, but way above those lows, at 1892.00!

                                                                          

We continue to rally sharply higher in wave ^iii^. Within wave ^iii^ we are working on wave -iii-, which has our projected endpoint of:                   

 

-iii- = 4.25-i- = 1952.40.

 

Within wave -iii-, we completed wave $iii$ at the 1915.60 high and likely all of wave $iv$ at the 1855.60 low. If that is the case we are now starting to rally higher in wave $v$ of -iii-.

 

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

 

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

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops!  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621si.png

 

Long Term Update:

 

Silver was initially higher this past week reaching a high of 28.71, but after that higher was made we moved lower reaching a low of 27.09. We closed at 27.90. 

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

We are likely still working on wave *i* of -iii-.  

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was lower this past week reaching a lower of 1.557%, closing at 1.560%!

 

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

 

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

 

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

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. We are currently working on the internal subdivision count within wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621oil.png

 

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 69.76, closing at 69.62!

 

We still think that we are working on a complex wave -ii- correction that has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

The rally from 57.25 to the current high of 69.76 does not look impulsive which is suggesting lower prices lie head. We are still short of retracement levels for our wave -ii- correction, so we still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621su.png

 

Long Term Update:

 

Suncor was sharply higher this past week reaching a high of 25.60, closing at 25.49!

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching a high of 4234.12, closing at 4229.89!

 

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

 

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

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is too early to determine which type of corrective pattern wave (iv) is going to become.

 

Active Positions: Short with calls as stops!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 90.62, closing at 90.13!

 

We continue to move lower in wave -v-. Expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621cdnx.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 978.0, closing and closing on its high of 978.01! We expect another higher close in the in the CNDX next week.

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$. We will provide your first projections for the end of wave $iii$, when we believe all of the wave $ii$ is complete.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long term hold.

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621gdx.png  

 

Long Term Update:

 

The GDX was lower this past week reaching a low of 38.01, closing at 38.68.

 

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

 

*iii* = 1.618*i*= 78.63.

 

We updated our internal count for wave -iii- to suggest that all of wave $iii$ ended at the 40.13, and also all of wave $iv$ at the 38.01 low. If that is the case we should now be rallying in wave $v$ of -iii-, which has the following projected endpoint:

 

-iii- =2.618-i- = 41.70.

 

Expect higher prices next week.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions at 31.50.

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/06/ewjun621bit.png

 

Long Term Update:

 

Bitcoin moved sideways this past week, closing at 35900.

 

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

 

50% = 32430;

61.8% = 24777.

 

We have already entered our retracement zone for all of wave 2 or B, but we doubt that it is complete so quickly. On the Daily Chart it looks like form the 64860 high we are falling in an impulsive sequence which does NOT look to be complete at the 29925 low.

 

We need one more drop below that low to satisfy all of the minimum requirement for our first impulsive sequence to be complete.

 

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

 

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

 

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

 

Thanks!

Captain & Crew

 

MAY 31 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Note: Next morning Post will be June 01,2021, due to the Memorial Day holiday in the USA today, May 31st, 2021

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021gold.png  

Long Term Update:

 

Gold was higher this past week reaching a high of 1915.60 and closing at 1905.30!

                                                                          

We continue to rally sharply higher in wave ^iii^.

 

The next resistance is at our red horizontal line which is at the 1906/1966 level.

 

In the short term a run to the 1935/1940 is likely.

                                                                             

Our next projected endpoint for all of wave -iii- is:

 

-iii- = 4.25-i- = 1952.40.

 

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

 

Our initial projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops.  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021si.png

 

Long Term Update:

 

Silver moved basically sideways this past week, although we closed higher at 28.01. 

                                                                  

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

 

iii = 1.618i = 51.52.

 

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

 

(iii) = 1.618(i) = 34.22.

 

We expect higher prices this week.

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was lower this past week reaching a lower of 1.579%, closing at 1.581%!

 

It appears that the bear market in US interest is now over and it ended at the 0.398% low.

 

Over the next couple of decades we should be rallying back to the all-time in rates that we saw in the 1980’s.

 

This multi-decade rally should be impulsive, and we are now working on our very first impulsive sequence.

 

Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

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

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. We are currently working on the internal subdivision count within wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 67.52, closing at 66.32.

 

It now looks like wave -i- is complete at the 67.98 high so we should still be falling in developing wave -ii-, which has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

We are also challenging our multi-year breakout of our major downtrend line. We are still short of retracement levels for our wave -ii- correction, so we do still expect lower prices ahead.

 

We still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a big rally higher in wave -iii-!

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021su.png

 

Long Term Update:

 

Suncor moved sideways this past week, although we closed lower at 23.10!

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching a high of 4218.36, closing at 4204.11.

 

From the 3723.34 low we have now completed the minimum requirements for a completed 5 wave impulsive sequence at the 4238.04 high, and we are now working on the assumption that all of wave (iii) of v is complete at that high. We should therefore be falling in wave (iv), which has the following retracement levels;

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is too early to determine which type of corrective pattern wave (iv) is going to become.

 

Active Positions: Short, with calls as stops!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021usd.png

 

Long Term Update:

 

The USDX was marginally lower this past week reaching a low of 89.51, closing at 89.99.

 

We continue to move lower in wave -v-. Expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021cdnx.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 966.28 and closing on its high of 966.28! We expect a much higher close very soon, and maybe this week!

 

It appears that wave $ii$ is now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$.

 

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

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long-term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021gdx.png

 

Long Term Update:

 

The GDX moved sideways this past week, and we closed marginally higher at 39.421.

 

The GDX appears to be working on a bullish triangle that should be complete soon!

 

After it ends, we expect a sharp thrust higher.

 

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

 

*iii* = 1.618*i*= 78.63.

 

Within wave *iii*  we are now rallying in wave -iii-, which has the following extended projected endpoint of:

 

-iii- =2.618-i- = 41.70.

 

It now looks like wave -iii- is subdividing with wave $i$ ending at 36.84, and all of wave $ii$ just short of our 50% retracement level at 34.31. We are now rallying in wave $iii$, which has the following initial project endpoint:

 

$iii$ = 1.618$i$ = 42.70.

 

We expect higher prices this week.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                                                                                                     

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we recently added to our long positions at 31.50!

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay3021bit.png

Long Term Update:

 

Bitcoin was initially higher this past week reaching a high of 40855, although by the end of week we closed lower at 34325!

 

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

 

50% = 32430;

61.8% = 24777.

 

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

 

Also, on the Daily Chart it looks like form the 64860 high we are falling in an impulsive sequence which does NOT look to be complete at the 29925 low.

 

We need one more drop below that low to satisfy all of the minimum requirements for our first impulsive sequence to be complete.

 

After that happens, we would have completed all of wave (a).

 

After wave (a) ends we expect a wave (b) rally that retraces between 50 to 61.8% of the entire wave (a) drop. After wave (b) ends we expect one more drop in wave (c) to complete all of wave 2 or B.

 

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

 

Thanks!

Captain & Crew

 

MAY 16 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621gold.png  

Long Term Update:

 

Gold was initially lower this past week, to 1808.80, but we closed higher at 1838.10!

                                                                          

We continue to rally sharply higher in wave ^iii^. Our next big challenge will be breaking through our red downtrend line connecting 2077.90 and 1962.50.

 

We are now working on wave (i) of ^iii^ and within wave (i) we completed wave -i- at 1738.00 and all of wave -ii- at 1677.30.

 

We are now rallying in wave -iii- to our second projected endpoint, which is:

 

-iii- = 2.618-i- = 1846.70.

 

We have reached our projected endpoint for all of wave -iii- noted above, however, it looks like the internal wave structure for all of wave -iii- may not be complete at the 1844.60 high so we should expect wave -iii- to extend further to our next projected endpoint which is:

 

-iii- = 4.25-i- = 1952.40.

 

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

 

Our initial projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ = 2687.80.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

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

                              

Active Positions: Long with puts as stops! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621si.png

 

Long Term Update:

 

Silver was initially higher past week reaching a high of 28.00, but we closed lower at 27.36!  

                                                                  

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

 

iii = 1.618i = 51.52!

 

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

 

(iii) = 1.618(i) = 34.22.

 

Expect higher prices next week.

 

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

                                                             

3 = 1.618(1) = 86.50   

 

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

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

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

 

US 10 Year Bond Yield:

                                                                                               

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.700%, closing at 1.635%!

 

It appears that the bear market in US interest is now over and it ended at the 0.398% low.

 

Over the next couple of decades we are now rallying back to the all-time in rates that we saw in the 1980’s!

 

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

 

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

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. We are currently working on the internal subdivision count within wave (iii). After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621oil.png

 

Long Term Update:                                                                          

             

Crude moved sideways this past week, although we closed higher at 65.37!

 

It now looks like wave -i- is complete at the 67.98 high so we should still be falling in developing wave -ii-, which has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

We are also challenging our multi-year breakout of our major downtrend line. We are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

We still expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

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

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621su.png

 

Long Term Update:

 

Suncor was higher this past week reaching a high of 24.12, but we closed lower at 23.23!

 

We continue to rally sharply higher in wave iii. Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621sp.png

 

Long Term Update:

 

The SP500 was lower this past week reaching a low of 4056.98, closing at 4173.85!

 

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

 

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

 

23.6% = 3889.53;

38.2% = 3674.95.

 

It is too early to determine which type of corrective pattern wave (iv) is going to become.

 

Active Positions: Short with calls as stops!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 89.96, but we closed higher at 90.32!

 

Wave -iv- is now complete at the 93.47 high, so we should now be heading lower in wave -v-.

 

Expect further losses, with a drop to at least the 88.15 low.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621cdnx.png

 

Long Term Update:

 

The CDNX was lower this past reaching a low of 902.36, closing at 931.38!

 

It appears that wave $ii$ as not complete at the 909.06 low, but we think it is likely now complete at the 902.36 low. If that is the case then we should start to rally sharply higher in wave $iii$.

 

We will provide your first projections for the end of wave $iii$, when we believe all of the wave $ii$ is complete.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

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

 

-iii- =1.618-i- = 1592.50.                           

 

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

 

Active Positions: Long the GDXJ, for a long-term hold.

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 38.22, closing at 37.84!

 

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

 

*iii* = 1.618*i*= 78.63!

 

Within wave *iii* we are now rallying in wave -iii-, which has the following extended projected endpoint of:

 

-iii- =2.618-i- = 41.70.

 

It now looks like wave -iii- is subdividing with wave $i$ ending at 36.84, and all of wave $ii$ just short of our 50% retracement level at 34.31.

 

We are now rallying in wave $iii$, which has the following initial project endpoint:

 

$iii$ = 1.618$i$ = 42.70.

 

Expect higher prices next week.

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37.                                      

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions at 31.50.

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay1621bit.png

 

Long Term Update:

 

Bitcoin was sharply lower this past week reaching a low of 48516, closing at 48706!

 

It is starting to look like that all of wave 1 or A is now complete in Bitcoin at the 64860 high.

 

If that is the case then Bitcoin is going to spend the next couple of years correcting in either wave 2 or B, with the following retracement levels:

 

50% = 32430;

61.8% = 24777.

 

There is still an outside chance that wave (4) of 1 or A is still underway and is becoming a bullish triangle that has a number of months to go before it ends, but that option will be eliminated if we trade below 43062.

 

After wave (4) ends we should expect another rally to all time new highs in wave (5) of 1 or A.

 

Thanks!

Captain & Crew