Category Archives: Weekly Charts Post

MAY 2 WEEKLY CHARTS POST!

 

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay221gold.png

 

Long Term Update:

 

Gold was modestly lower this past week reaching a low of 1754.60, closing at 1767.70.

                                                                          

Wave ^ii^ is officially complete at the 1673.30 low and we are now starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

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.

 

Expect higher prices next week.

 

After wave -iii- ends wee 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/ewmay221si.png

 

Long Term Update:

 

Silver was also lower this past week reaching a low of 25.75, closing at 25.87.  

                                                                  

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 sharply higher prices moving forward.

 

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 1.688%, closing at 1.631%.

 

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/ewmay221oil.png

 

Long Term Update:                                                                          

             

Crude was sharply higher this past week reaching a high of 65.47, closing at 63.58!

 

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/ewmay221su.png

 

Long Term Update:

 

Suncor was sharply higher this past week reaching a high of 22.34, closing at 21.42!

 

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/ewmay221sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time new high at 4218.78, closing at 4181.17!

 

We still to take a look at our internal wave count for all of wave v of V, as we suspect are current count is not correct and needs updating.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay221usd.png

 

Long Term Update:

 

The USDX was initially lower this past week reaching a low of 90.39, but we closed higher at 91.27!

 

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

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay221cdnx.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 955.26 and closing on its high of 955.26!

 

This week we probably completed all of wave $ii$ of -iii- at the 909.06 low and if that is the case then we should be starting to rally sharply higher in wave $iii$ of -iii-. We will provide projections 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/2021/05/ewmay221gdx.png

 

Long Term Update:

 

The GDX was sharply lower this past week reaching a low of 34.31, closing at 34.36.

 

Wave *ii* is now complete at the 30.64 low and we are now rallying sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63!

 

Within wave *iii*  we are now working on wave ^i^ of *iii*, where completed wave -i- at 34.48 and wave -ii- at 31.65. 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 if that is the case then we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 34.24;

61.8% = 33.63.

 

WE are still a bit short of out 50% retracement level, so we could see some further weakness early next, before all of wave $ii$ ends and we start to rally again sharply higher in wave $iii$ of -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 at 31.50.

 

Bitcoin: 

  

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/05/ewmay221bit.png

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 58499, closing at 56866!

 

We need to be on guard for the possibility that all of wave 1 or A is now complete in Bitcoin.

 

 If that is the case then Bitcoin is going to spend the next couple of years correcting in either wave 2 or B.

 

In either case the correction should retrace between 50 to 61.8% of the entire wave 1 or A move.

 

We will provide those retracement levels once we believe that all of wave A or 1 is complete.

 

WE expect a final drop of between 34000 to 40000 points from the 64860 top.

 

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

 

Thanks!

Captain & Crew

 

APR 25 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

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

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

 

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

From there, add more detail to your study.

 

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr2521gold.png

 

Long Term Update:

 

Gold was higher this past week, reaching 1798.40, and closing only marginally lower at 1777.80.

                                                                          

Wave ^ii^ is complete at the 1673.30 low and we are now starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

 We appear to have now broken above our red downtrend line.

 

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.

 

Expect higher prices moving forward.

 

After wave -iii- ends wee 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/2021/04/ewapr25si.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 26.73, although we closed marginally lower at 26.08.  

                                                                  

Wave ii is officially 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 sharply higher prices moving forward.

 

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 1.615%, although we closed marginally lower at 1.567%.

 

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.  

 

We plan to do a weekly bond chart in the coming weeks, but the counts and daily chart are all that’s really needed right now.

 

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/2021/04/ewapr2521oil.png  

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 64.38, although we closed lower at 62.14.                        

 

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 and this week we managed to close above that 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/2021/04/ewapr2521su.png

 

Long Term Update:

 

Suncor was lower this past week reaching a low of 19.65, closing at 20.37.

 

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/2021/04/ewapr2521sp.png

 

Long Term Update:

 

The SP500 was lower this past week reaching a low of 4118.38, closing at 4180.17.

 

We still to take a look at our internal wave count for all of wave v of V, as we suspect our current count needs updating.

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr2521usd.png

 

Long Term Update:

 

The USDX was sharply lower this past week reaching a low of 90.87, closing at 90.84.

 

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

 

Expect further losses!

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr2521cdnx.png

 

Long Term Update:

 

The CDNX was lower this past reaching a low of 909.06, closing at 930.63.

 

This week we probably completed all of wave $ii$ of -iii- at the 909.06 low and if that is the case then we should be starting to rally higher in wave $iii$ of -iii-.

 

We will provide projections 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/2021/04/ewapr2521gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 36.83, closing marginally higher at 36.06.

 

Wave *ii* is now complete at the 30.64 low and we are now rallying sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

Within wave *iii*  we are now working on wave ^i^ of *iii*, where completed wave -i- at 34.48 and wave -ii- at 31.65. We are now rallying in wave -iii-, which has the following projected initial endpoint of:

 

-iii- = 1.618-i- = 37.86.

 

We said this last week: “The big event next week should be a break and close above our multi-mouth upper red trendline that has defined the upper bounds of our wave ^ii^ correction” This did happen.

 

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/2021/04/ewapr2521bit1.png

 

Long Term Update:

 

Our bitcoin chart is giving us some trouble, but that doesn’t change the overall picture:

 

As you can see, bitcoin has risen sharply from 2014, this chart’s inception date.

 

In the longer term Bitcoin appears to rising in an impulse fashion

 

We are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending around the 58349 high. All of wave (4) ended at the 43665 low.

 

We have satisfied the minimum requirements for a completed wave (5) rally at the recent high.

 

This current wave (5) rally will complete a 5 wave impulsive sequence for this market.

 

Either a wave 1 of A will be completed and the next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin…

 

Or all of wave A ended and the next big move will be a wave b drop that also retraces between 50 to 61.8% of the entire wave A rally.

 

In either case a drop of between 20000 to 25000 point should be expected after the top is reached!

 

Thanks!

Captain & Crew

 

APR 18 WEEKLY CHARTS POST!

 

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

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

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

 

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

From there, add more detail to your study.

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821gold.png  

Long Term Update:

 

Gold was strongly higher this past week, reaching a high of 1784.70, and closing at 1780.20!

                                                                          

Wave ^ii^ is now officially complete at the 1673.30 low and we are now starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

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- which has the following possible endpoints:

 

-iii- = 1.618-i- = 1782.70;  (we are there)

-iii- = 2.618-i- = 1846.70.

 

Last Friday we reached our initial projection with the 1784.70 high, although we suspect (and cheer) that wave -iii- is likely going to extend to our second projected endpoint of 1846.70, before all of wave -iii- ends.

 

 After wave -iii- ends wee 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/2021/04/ewapr1821si.png

 

Long Term Update:

 

Silver was also strongly higher this past week, reaching a high of 26.38, and closing at 26.10. 

                                                                  

Wave ii is officially 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 sharply higher prices moving forward.

 

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 low of 1.564%, closing at 1.573%.

 

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 envision this market 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/2021/04/ewapr1821oil.png

 

Long Term Update:                                                                          

             

Crude was sharply higher this past week reaching a high of 63.94, closing at 63.19!

 

It does look 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 and this week we managed to close above that line.

 

We are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

We 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/2021/04/ewapr1821su.png

 

Long Term Update:

 

Suncor was higher this past week reaching a high of 21.60, closing at 20.89.

 

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/2021/04/ewapr1821sp.png

 

Long Term Update:

 

The SP500 was sharply higher this past week reaching another all-time high at 4191.31, closing at 4185.47.

 

We now need to take a look at our internal wave count for all of wave v of V, as we suspect are current count is not correct and needs updating.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 92.47 closing at 91.54.

 

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

 

WE expect further losses!

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821cdnx.png

 

Long Term Update:

 

The CDNX was lower this past reaching a low of 922.57, closing at 944.46.

 

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/2021/04/ewapr1821gdx.png

 

Long Term Update:

 

The GDX was stronger higher with breakout action this past week, reaching a high of 36.12, and closing at 36.03!

 

Wave *ii* is officially complete at the 30.64 low and we are rallying sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63!

 

Within wave *iii*  we are now working on wave ^i^ of *iii*, where completed wave -i- at 34.48 and wave -ii- at 31.65. We are now rallying in wave -iii-, which has the following projected initial endpoint of:

 

-iii- = 1.618-i- = 37.86.

 

We said last week: “The big event next week should be a break and close above our multi-mouth upper red trendline that has defined the upper bounds of our wave ^ii^ correction”

 

We got that breakout!

 

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/2021/04/ewapr1821bit.png  

Long Term Update:

 

Bitcoin was higher this past week, reaching another all-time high of 64860, closing at 1194, closing at 60867.

 

Bitcoin started trading in 2014 and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer-term, Bitcoin appears to rising in an impulse fashion and we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

All of wave (4) ended at the 43665 low and we still rallying in wave (5).

 

We have now satisfied the minimum requirements for a completed wave (5) rally at the current high.

 

This current wave (5) rally will complete a 5wave impulsive sequence for this market. Either a wave 1 or A will be completed.

 

The next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin or all of wave A ended and the next big move will be a wave b drop that also retraces between 50 to 61.8% of the entire wave A rally.

 

In either case a drop of between 20000 to 25000 points should be expected after the top is reached!

 

Editor Note:  The Captain wrote this update Saturday… before the Saturday night landslide event happened…. And he’s been clear for weeks that this type of event was imminent, basis the end of wave 1/A.  Bitcoin enthusiasts and those new to the sector will get a major buy opportunity, perhaps a historic one, as the reaction manifests itself.

 

Have a great day,

Thanks!

Captain & Crew

 

APR 11 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1121gold.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1759.40, closing at 1744.80.

                                                                          

We continue to work on the assumption that all of wave ^ii^ is complete at the 1673.30 low and if that is the case then we should now be starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

If wave ^iii^ is now underway then within wave (i) of ^iii^, we completed wave -i- at 1738.00 and all of wave -ii- at 1677.30, and we should therefore now be rallying in wave -iii-, which has an initial target of 1783.00.

 

Gold has now clearly broken above the downtrend line connecting 1962.50, 1878.90 and 1815.20, which supports our view that all of wave ^ii^ is now likely complete at the 1673.30 low.

 

Silver broke out this week also and the GDX is on the verge of a large breakout also, which will likely occur early next week. See details in the Silver and GDX write-up sections.

 

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/2021/04/ewapr1121si.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 25.67, closing at 25.33.  

                                                                  

We are now working on the assumption that all of wave ii is complete at the 21.96 low and if that is the case then 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 we have now likely completed all of wave (ii) at the 23.74 low. If that is the case we are now rallying in wave (iii) of iii, which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 34.22.

 

On our Daily Silver Chart we have broken and closed above the upper blue trendline of our diagonal triangle which is marked by the highs at 28.43 and 26.74, which confirms to us that all of wave -c- and (ii) are complete at the 23.74 low.

 

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 low of 1.626%, closing at 1.666%.

 

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/2021/04/ewapr1121oil.png

 

Long Term Update:                                                                          

             

Crude was lower this past week reaching a low of 57.63, closing at 59.32.                                                                                      

 

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 and this week we managed to close above that line. We are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

On the Intraday Chart we appear to be working on a triangle formation which could be bullish or bearish, but once it ends we should see crude spike in either direction, although 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/2021/04/ewapr1121su.png

 

Long Term Update:

 

Suncor was lower this past week reaching a low of 20.66, closing at 20.87.

 

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/2021/04/ewapr1121sp.png

 

Long Term Update:

 

The SP500 was sharply higher this past week reaching another all-time high at 4129.48, closing at 4128.80.

 

We now need to take a look at our internal wave count for all of wave v of V, as we suspect are current count is now correct and needs updating.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1121usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 92.01 closing at 92.16.

 

Wave -iv- is now complete at the 93.47 high, so we should now be heading lower in wave -v-. We have broken and closed below our red dotted line that is shown on our Daily USDX Chart that connects at the lows of 89.67 and 91.29.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewap1121cdnx.png  

Long Term Update:

 

The CDNX moved sideways this past week, and we closed marginally lower at 959.37.

 

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/2021/04/ewapr1121gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 34.85, closing at 34.73.

 

We are now working on the assumption that all of wave *ii* is now complete at the 30.64 low and if that is the case we are now starting to rally sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63.

 

If wave *iii* is now underway then within wave ^i^ of *iii*, we completed wave -i- at 34.48 and wave -ii- at 31.65. We should now be rallying in wave -iii-, which has the following projected endpoint of:

 

-iii- = 1.618-i- = 37.86.

 

The big event next week should be a break and close above our multi-mouth upper red trendline that has defined the upper bounds of our wave ^ii^ correction.

 

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/2021/04/ewapr1121bit1.png  

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 61194, closing at 60411.

 

As you can see in our Bitcoin Weekly Chart that it has risen sharply form the 2014 inception date for this chart.

 

In the longer term Bitcoin appears to rising in an impulse fashion as we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

It looks like all of wave (4) ended at the 43665 low and we still rallying in wave (5).

 

We have now satisfied the minimum requirements for a completed wave (5) rally at the current high of 61749. This current wave (5) rally will complete a 5 wave impulsive sequence for this market.

 

Either a wave 1 or A will be completed and the next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin. For example, a 61.8% retracement from the current high would see bitcoin drop to the 24000 level.

 

Thanks!

 

APR 4 EASTER POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421gold1.png

 

Long Term Update:

 

Gold was initially sharply lower this past week, reaching a low of 1677.30, and by the end of the week we had recovered almost all of those losses to close only marginally lower at 1730.45!

                                                                          

We continue to work on the assumption that all of wave ^ii^ is complete at the 1673.30 low and if that is the case then we should now be starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

If wave ^iii^ is not underway then within wave (i) of ^iii^. we completed wave -i- at 1738.00 and all of wave -ii- at 1677.30, and we should therefore now be rallying in wave -iii-, which has an initial target of 1783.00

 

We will provide our first projections for the end of wave ^iii^ when we are sure that all of wave ^ii^ is complete.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421si1.png

 

Long Term Update:

 

Silver was initially sharply lower this past week reaching a low of 23.74, but by the end of the week we also recovered most of those losses to close at 24.95.  

                                                                  

We updated our count this week to now suggest that all of wave ii is complete at the 21.96 low and if that is the case then 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 continue to work on a lengthy wave (ii) correction. Within wave (ii) we completed wave -a- at 24.04 and wave -b- at 30.35.

 

We should be falling in the tail end of our wave -c- ending diagonal triangle that has a minimum target of 24.04, which is the wave -a- low.

 

It now looks likely that all of wave -c- and (ii) are now complete at the 23.74 low. If that is the case we have now started to rally sharply higher in wave (iii).

 

A break above the upper trendline of our diagonal triangle which is marked by the highs at 28.43 and 26.74, would confirm that all of wave -c- and (ii) are complete at the 23.74 low.

 

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.

 

We have cancelled our buy at 19.50.

 

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 low of 1.765%, closing at 1.679%.

 

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/2021/04/ewapr421oil1.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 62.27, closing at 61.45.                                                                                      

 

It now looks like wave -i- is complete at the 67.98 high so we should now be falling in 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 and this week we managed to close above that line!

 

Unfortunately, we are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

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/2021/04/ewapr421su.png

 

Long Term Update:

 

Suncor was higher this past week reaching a high of 21.54, closing at 21.53.

 

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/2021/04/ewapr421sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time high at 4020.63, closing at 4019.87.

 

Our current projection for the end of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

We are getting close to our projected endpoint for all of wave (iii). After wave (iii) ends we expect a wave (iv) correction that retracements between 23.6 to 38.2% of the entire wave (iii) rally.

 

At current levels this should result in a 300 to 500 point correction in the SP500.

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 93.47, closing at 92.95.

 

Wave -iii- is complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6% = 91.95;

38.2% = 93.68.

 

Wave -iv- looks to now have become more complex and is still developing, although we think it should be ending very soon. After wave -iv- ends we expect another drop in wave -v-.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421cdnx.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 965.84, closing at 960.84.

 

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 a nice portfolio of CDNX juniors, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421gdx.png

 

Long Term Update:

 

The GDX was initially lower this past week reaching a low of 31.65, and we closed higher, at 33.60!

 

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

 

50% = 30.98;

61.8% = 27.49.

 

We believe all of wave *ii* is likely complete at the 30.64 low.

 

We now need to be on guard for the start of a major rally in wave *iii*.

 

If all of wave *ii* is now complete at the 30.64 low then our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i*= 78.63.

 

If wave *iii* is now underway then within wave ^i^ of *iii*, we completed wave -i- at 34.48 and wave -ii- at 31.65.

 

We should now be rallying 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 at 31.50!

 

Bitcoin: 

 

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr421bit.png

 

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 60062, closing at 59988.

 

Bitcoin started trading in 2014 on this chart, and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer-term Bitcoin appears to rising in an impulse fashion as we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

It looks like all of wave (4) ended at the 43665 low and we still rallying in wave (5).

 

We have satisfied the minimum requirements for a completed wave (5) rally at the current high of 61749.

 

This current wave (5) rally will complete a 5wave impulsive sequence for this market.

 

Either a wave 1 or A will be completed and the next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin.

For example a 61.8% retracement from the current high would see bitcoin drop to the 24000 level.

 

Thanks!

Happy Easter Holidays…

Captain & Crew

 

MAR 28 WEEKLY CHARTS POST

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2821gold.png

 

Long Term Update:

 

Gold generally moved sideways this past week, closing marginally lower at 1732.30.

                                                                          

We are now working on the assumption that all of wave ^ii^ is complete at the 1673.30 low and if that is the case then we should now be starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

We will provide our first projections for the end of wave ^iii^ when we are sure that all of wave ^ii^ is complete.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops!  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2821si.png

 

Long Term Update:

 

Silver was lower this past week reaching a low of 24.43, closing at 25.11

                                                                  

We updated our count this week to now suggest that all of wave ii is complete at the 21.96 low and if that is the case then 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 continue to work on a lengthy wave (ii) correction. Within wave (ii) we completed wave -a- at 24.04 and wave at 30.35.

 

We are should now be falling in the tail end of our wave -c- ending diagonal triangle that has a minimum target of 24.04, which is the wave -a- low.

 

There is an outside chance that all of wave -c- and (ii) ended at the 24.43 low, but we do not like to base our Ewave counts on failures, so we will see how silver moves from here, next week.

 

A break now of the upper trendline of our diagonal triangle which is marked by the highs at 28.43 and 26.74, would confirm that all of wave -c- and (ii) are complete at the 24.43 low.

 

We are thinking of adding to our long silver positions on a break above this trendline. More on this in the days ahead.

 

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.

 

We cancelled our buy at 19.50.

 

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 low of 1.591%, closing at 1.660%

 

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. 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/2021/03/ewmar2821oil.png

 

Long Term Update:                                                                          

             

Crude was lower again this past week reaching a low of 57.25, although we managed to recover most of those losses to close only marginally lower at 60.97.   

 

It now looks like wave -i- is complete at the 67.98 high so we should now be falling in 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 and this week we managed to close above that line. Let’s see where we close on March 31st. We are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

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/2021/03/ewmar2821su.png

 

Long Term Update:

 

Suncor was lower this past week reaching a low of 20.19, closing at 21.19.

 

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/2021/03/ewmar2821sp.png

 

Long Term Update:

 

The SP500 was initially lower this past week reaching a low of 3853.50, although we closed higher at 3974.54.

 

Our current projection for the end of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

We are getting close to our projected endpoint for all of wave (iii). After wave (iii) ends we expect a wave (iv) correction that retracements between 23.6 to 38.2% of the entire wave (iii) rally.

 

At current levels this should result in a 300 to 500 point correction in the SP500.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar28921usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 92.94, closing at 92.78.

 

Wave -iii- is now complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6% = 91.95;

38.2% = 93.68.

 

Wave -iv- looks to now have become more complex and is still developing, although we think it should be ending very soon. After wave -iv- ends we expect another drop in wave -v-.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2821cdnx.png

 

Long Term Update:

 

The CDNX was initially marginally higher this past reaching a high of 1001.83, but we closed lower at 943.29.

 

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/2021/03/ewmar2821gdx.png

 

Long Term Update:

 

The GDX was lower this past week reaching a low of 31.91, closing at 32.77.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

We continue to believe that all of wave *ii* is likely complete at the 30.64 low. We now need to be on guard for the start of a major rally in wave *iii*. If all of wave *ii* is now complete at the 30.64 low then our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i*= 78.63.

 

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/2021/03/ewmar2821bit.png

 

Long Term Update:

 

Bitcoin was initially lower this past week reaching a low of 53269, and then we closed higher, at 59289!

 

Bitcoin started trading in 2014 on this chart, and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer term Bitcoin appears to rising in an impulse fashion as we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high. It looks like all of wave (4) ended at the 43665 low and we are now rallying in wave (5).

 

We have now satisfied the minimum requirements for a completed wave (5) rally at the current high of 61749. This current wave (5) rally will complete a 5 wave impulsive sequence for this market.

 

Either a wave 1 of A will be completed and the next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin.

 

For example a 61.8% retracement from the current high would see bitcoin drop to the 24000 level.

 

Thanks!

Captain & Crew

 

MAR 21 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121gold.png

 

Long Term Update:

 

Gold was higher this past week reaching a high of 1754.20, closing at 1741.70!

                                                                          

We are now working on the assumption that all of wave ^ii^ is complete at the 1673.30 low and if that is the case then we should now be starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are shown on the Weekly Gold Chart.

 

We will provide our first projections for the end of wave ^iii^ when we are sure that all of wave ^ii^ is complete.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops!  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121si.png

 

Long Term Update:

 

Silver was higher this past week reaching a high of 26.74, closing at 26.32!  

                                                                  

We are not sure that wave ii of 3 is still underway but if it is, our retracement levels are:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 20.78;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 18.62.

 

Our current count is still suggesting that we are falling in wave c which has a minimum target of the wave a low of 21.81, but likely lower…somewhere within our above mentioned retracement zone.

 

However, based on what silver is doing compared to gold we are not so sure that silver is going to fall all the way back to the 21.00 level.

 

It could be possible that all of wave ii in silver ended at the 21.96 low and in that case we have already starting rallying in wave iii. This is not our alternate count.

 

We will give this market another week to see if this is what is really happening.   

 

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.

 

We plan to add to our long silver positions at 19.50.

 

Active Positions: Long at 14.85, with a put as a stop, and will add at 19.50!

 

US 10 Year Bond Yield:

 

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.754{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}, closing at 1.732{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}.

 

It appears that the bear market in US interest is now over and it ended at the 0.398{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} low!

 

Our count suggests (you might want to sit down for this one): 

 

Over the next couple of decades we are rallying back to the all-time high 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{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}.

 

We expect to move higher in the weeks ahead as we head toward the 1.910{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} level. After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave (iii) rally.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121oil.png

 

Long Term Update:                                                                          

             

Crude was sharply lower this past week reaching a low of 58.28, closing at 61.44.                               

 

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.

 

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

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 50.81

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 46.81.

 

We expect lower prices as wave -ii- continues to develop.

 

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/2021/03/ewmar2121su.png

 

Long Term Update:

 

Suncor was sharply lower this past week reaching a low of 21.36, closing at 22.02.

 

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/2021/03/ewmar2121sp.png

 

Long Term Update:

 

The SP500 was initially higher this past week reaching another all-time new high at 3983.87, and then we closed lower at 3913.10.

 

Our current projection for the end of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

We are getting close to our projected endpoint for all of wave (iii).

 

After wave (iii) ends we expect a wave (iv) correction that retracements between 23.6 to 38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave (iii) rally.

 

At current levels this should result in a 300 to 500 point correction in the SP500.

 

Active Positions: Flat!

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121usd.png

 

Long Term Update:

 

The USDX moved generally sideways this past week, although we closed a bit higher at 91.93.

 

Wave -iii- is now complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 91.95;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 93.68.

 

Wave -iv- now has a completed 3 wave rally from the wave -iii- low of 89.17.

 

We cannot rule the possibility that all of wave -iv- is now complete at the 92.53 high and that we have now started to fall again in wave -v-.

 

Active Positions: Flat!

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121cdnx.png

 

Long Term Update:

 

The CDNX was higher this past reaching a high of 999.86, closing at 995.80.

 

We are going to buy a 2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of Ewave Juniors Portfolio starter position in Aurion (AIRRF or AU.v).  Stoploss for half under the March lows, and the rest is a core position.  It’s down 50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} from the summer highs and time for action!

 

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 a portfolio of key CDNX juniors, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar2121gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 34.48, closing at 33.89!

 

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

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 30.98;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 27.49.

 

We continue to hold the major support line, and we believe that all of wave *ii* is likely complete at the 30.64 low.

 

We now need to be on guard for the start of a major rally in wave *iii*. If all of wave *ii* is now complete at the 30.64 low then our first projection for the end of wave *iii* is, incredibly, up at:

 

*iii* = 1.618*i*= 78.63.

 

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/2021/03/ewmar2121bit.png

 

Long Term Update:

 

Bitcoin was initially lower this past week reaching a low of 53269, although we closed higher at 59289.

 

Bitcoin started trading on this chart in 2014 and as you can see in our Bitcoin Weekly Chart that it has risen sharply fromm that inception date.

 

In the longer term Bitcoin appears to rising in an impulse fashion and we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

It looks like all of wave (4) ended at the 43665 low and we are now rallying in wave (5).

 

We have satisfied the minimum requirements for a completed wave (5) rally at the current high of 61749.

 

This current wave (5) rally will complete a 5 wave impulsive sequence for this market. Either a wave 1 of A will be completed and the next move for this market will be a 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement correction in either wave 2 or B of the entire move in bitcoin.

 

For example, a 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement from the current high would see bitcoin drop to the 24000 level.

 

Thanks!

Captain & Crew

 

MAR 14 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421gold.png

 

Long Term Update:

 

Gold was initially lower this past week reaching a low of 1673.90 but after that low was made we moved higher reaching a high of 1738.00, and closing higher at 1719.80!

                                                                          

We are now working on the assumption that all of wave ^ii^ is complete at the 1673.390 low and if that is the case then we should now be starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are shown on the Weekly Gold Chart.

 

We will provide our first projections for the end of wave ^iii^ when we are sure that all of wave ^ii^ is complete.

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops.  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421si.png  

Long Term Update:

 

Silver was higher this this past week reaching a high of 26.55, closing at 25.91.  

                                                                  

We are not sure now that wave ii of 3 is still underway but if it is our retracement levels are:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 20.78;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 18.62.

 

Our current count is are still suggesting that we are falling in wave c which has a minimum target of the wave a low of 21.81, but likely lower…somewhere within our above mentioned retracement zone.

 

However, based on what silver is doing compared to gold we are not so sure that silver is going to fall all the way back to the 21.00 level.

 

It could be possible that all of wave ii in silver ended at the 21.96 low and in that case we have already starting rallying in wave iii. This is our alternate count.

 

We will give this market another week to see if this is what is really happening.   

 

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.

 

We plan to add to our long silver positions at 19.50.

 

Active Positions: Long at 14.85, with a put as a stop, and will add at 19.50.

 

US 10 Year Bond Yield:

 

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.642{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}, closing at 1.635{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}.

 

We continue to rally higher in this market and now have now reached our 78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level for all of wave ^ii^, which is:

 

78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1.580{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}

 

For our current analysis to remain valid we need to move lower from these lvels in the start of a wave ^iii^ drop otherwise we need to conclude that the multi-year bear market in rates in complete at the 0.386{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} low and that we have started to climb higher again for years to come.  

 

On our Daily 10 Year US Bond Yield Chart we now have a ending diagonal triangle formation which you will see in our Monday Morning Post. This is the same pattern that we saw at the recent top in the CDNX. To complete the pattern we now need a break below the lower trendline which is connected at 1.403{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} and 1.497{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}. If this observation is correct then we should see a sharp drop in rates starting next week.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421oil.png

 

Long Term Update:                                                                          

             

Crude was initially higher again this past week reaching a high of 67.98, although we closed lower at 65.61.          

 

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.

 

Within wave (iii), we continue to rally higher in wave -i-, which is now be extending higher and trying to break above the 66.00/67.00 resistance level target. A successful break above this level will see run to the 77.00 level, before all of wave -i- ends.

 

We have now broken above our multi-year downtrend line that is shown on our Weekly Crude Chart, which is a very bullish signal for this market!!

 

After wave -i- ends we expect a wave -ii- correction that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave -i- rally, as the next big event in this market. We will provide those retracement levels once we believe that all of wave -i- is complete.

 

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/2021/03/ewmar1421su.png

 

Long Term Update:

 

Suncor was sharply higher this past week reaching a high of 23.63, closing at 23.53.

 

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/2021/03/ewmar1421sp.png

 

Long Term Update:

 

The SP500 was higher this past week reaching another all-time new high at 3960.27, closing at 3943.34.

 

It was a quick correction, but it looks like all of wave -iv- of (iii) ended just short of our 23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level at 3723.34. Our retracement levels for all of wave -iv- were:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 3718.02

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 3574.25.

 

We should now be rallying in wave -v- of (iii), where our current projection for the end of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

We are getting close to our projected endpoint for all of wave (iii). After wave (iii) ends we expect a wave (iv) correction that retracements between 23.6 to 38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave (iii) rally. At current levels this should result in a 300 to 500 point correction in the SP500.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421usd.png

 

Long Term Update:

 

The USDX was initially higher this past week reaching a high of 92.53, but we closed lower at 91.68.

 

Wave -iii- is now complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 91.95;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 93.68.

 

Wave -iv- now has a completed 3 wave rally from the wave -iii- low of 89.17.

 

We cannot rule the possibility that all of wave -iv- is now complete at the 92.53 high and that we have now started to fall again in wave -v-.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421cdnx.png

 

Long Term Update:

 

The CDNX was sharply higher this past reaching a high of 982.25, closing on its high of 982.25.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

We updated our count for the CDNX last we to suggest that 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 a portfolio of awesome cdnx juniors, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar1421gdx.png

 

Long Term Update:

 

The GDX was higher this past week reaching a high of 33.13, closing at 33.08!

 

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

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 30.98;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 27.49.

 

We continue to hold the major support line, and believe that all of wave *ii* is likely complete at the 30.64 low. We now need to be on guard for the start of a major rally in wave *iii*.

 

If all of wave *ii* is now complete at the 30.64 low then our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i*= 78.63.

 

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/2021/03/ewmar1421btc.png

 

Long Term Update:

 

Bitcoin was higher this past week reaching another all-time high of 61749, closing at 60267!

 

In the longer term Bitcoin appears to rising in an incomplete impulse fashion and we are getting close to finishing an impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

It looks like all of wave (4) ended at the 43665 low and we are now rallying in wave (5).

 

We have now satisfied the minimum requirements for a completed wave (5) rally at the current high of 61749.

 

This current wave (5) rally will complete a 5 wave impulsive sequence for this market. Either a wave 1 of A will be completed and the next move for this market will be a 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement correction in either wave 2 or B of the entire move in bitcoin.

 

For example a 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement from the current high would see bitcoin drop to the 24000 level!

 

Thanks!

Captain & Crew

MAR 7 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721gold.png

 

Long Term Update:

 

Gold was sharply lower this past week reaching a low of 1683.00, closing at 1698.50.  Our counts have been solid.

                                                                          

We continue to drop in wave ^ii^, which has the following retracement levels:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1767.70;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1694.50.

 

Wave ^ii^ is still underway and has become a double 3 wave corrective pattern as shown on our Daily Gold Chart, as we continue to fall in our second wave (c) of ^ii^.

 

We have now dropped to our 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level so we really now need to be guard for the completion of all of wave ^ii^ and that start of a very sharp rally in wave ^iii^.

 

Confirmation of the completion of wave ^ii^ will occur if we rally above the 1759.00 low, which would put us back within our ending diagonal triangle formation.

 

On the Intraday Chart we are also watching for a smaller ending diagonal triangle formation which appears complete at the 1683.00 low.

 

We now need to rally above the 1721.40 high to confirm it’s completion.at 1683.00.

 

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

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops, and we added more at 1735.00 on Friday.  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721si.png

 

Long Term Update:

 

Silver was sharply lower this past week reaching a low of 24.84, closing at 25.29.  

                                                                  

We continue to believe that wave ii of 3 is still underway, with the following retracement levels:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 20.78;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 18.62.

 

We are still falling in wave c which has a minimum target of the wave a low of 21.81, but likely lower…somewhere within our above mentioned retracement zone. However, based on what silver is doing compared to gold we are not so sure that silver is going to fall all the way back to the 21.00 level. It could be possible that all of wave ii in silver ended at the 21.96 low and in that case we have already starting rallying in wave iii.

 

We will give this market another week to see if this is what is really happening.   

 

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.

 

We plan to add to our long silver positions at 19.50.

 

Active Positions: Long at 14.85, with a put as a stop, and will add at 19.50.

 

US 10 Year Bond Yield:

 

Long Term Update:

 

The 10 Year US Bond Yield was higher this past week reaching a high of 1.626{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}, closing at 1.554{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}.

 

We continue to rally higher in this market and now have now reached our 78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level for all of wave ^ii^, which is:

 

78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1.580{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}

 

For our current analysis to remain valid we need to move lower from these levels in the start of a wave ^iii^ drop otherwise we need to conclude that the multi-year bear market in rates is complete at the 0.386{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} low and that we have started to climb higher again for years to come.  

 

Think… inflation, and maybe a lot of it!  This is how the wave counts for higher gold AND higher rates can work in sync from a fundamental perspective, but our job is not to fit the counts into anything other than the counts themselves.

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721soil.png

 

Long Term Update:                                                                          

             

Crude was sharply higher again this past week reaching a high of 66.42, closing at 66.09.                                                                                      

 

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.

 

Within wave (iii), we continue to rally higher in wave -i-, which is now be extending higher and a break of the 66.00/67.00 resistance level targets a run to the 77.00 level, before it ends.

 

We have now broken above our multi-year downtrend line that is shown on our Weekly Crude Chart, which is a very bullish signal for this market.

 

After wave -i- ends we expect a wave -ii- correction that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave -i- rally, as the next big event in this market. We will provide those retracement levels once we believe that all of wave -i- is complete.

 

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/2021/03/ewmar721su.png

 

Long Term Update:

 

Suncor moved higher this past week reaching a high of 22.39, closing at 21.99.

 

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-.    

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721spw.png

Long Term Update:

 

The SP500 was initially lower this past week reaching a low of 3723.34, but we closed higher at 3841.94!

 

We are now working on the assumption that all of wave -iii- is finally be complete at the 3950.43 high. If that is the case, we are now falling in wave -iv- which has the following retracement levels:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 3718.02

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 3574.25.

 

Last week’s low is very close to our 23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level, but we think that wave -iv- is still developing, in spite of the very strong rally in the SP500 last Friday.

 

We will see how this market reacts to the passage of the $1.9 trillion COVID package by the US Government.

 

In the longer term our initial projected end point for all of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721usd.png

 

Long Term Update:

 

The USDX was higher this past week reaching a high of 91.22, closing at 91.64.

 

Wave -iii- is now complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 91.95;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 93.68.

 

Wave -iv- now has a completed 3 wave rally from the wave -iii- low of 89.17. Wave -iv- has also reached our 23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level of 91.95…

 

so we need to be on guard for its completion and the start of another drop in wave -v-.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721cdnx.png

 

Long Term Update:

 

The CDNX was sharply lower this past reaching a low of 867.26, closing at 918.36.

 

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

 

.iii. = 1.618.i. = 1357.02    

 

The big drop in the CDNX this week are required to revise our count to now suggest that wave .iii. is subdividing with all of wave -i- of .iii. ending at the 1113.64 high and likely all or most of wave -ii- at the 867.26 low. If that is the case then we should now be rallying sharply higher in wave -iii- od .iii.

 

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

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 889.53

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 836.63.

 

We will provide our first projections for the end of wave -iii- of .iii. when we believe 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 quality CDNX juniors, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721gdx.png

 

Long Term Update:

 

The GDX was initially lower this past week reaching a low of 30.64, but in spite of gold being lower this week… GDX closed higher at 31.78!!

 

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

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 30.98;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 27.49.

 

We continue to hold the major support line, and believe that all of wave *ii* is almost complete or complete the 30.64 low.

 

 We now need to be on guard for the completion of wave *ii* and the start of a major 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 have added to our long positions at 31.50!

 

Bitcoin: 

 

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/03/ewmar721bit.png

 

Long Term Update:

 

Bitcoin was higher this past week reaching a high of 52625, closing at 50629.

 

Bitcoin started trading on this chart in 2014 and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer term Bitcoin appears to rising in an incomplete impulse fashion as we are getting close to finishing an impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

We are now falling in wave (4) which has current low of 43665, which is just within our retracement level for all of wave (4) which is:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 45327;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 37271.

 

We need to be on guard o the completion of all of wave (4) at the current low, however, we think more time is be needed for the wave (4) correction to develop.

 

After wave (4) ends we expect another rally above the 58349 high in wave (5) to complete either all of wave 1 of a wave B.

 

Thanks!

Captain & Crew

 

FEB 28 WEEKLY CHARTS POST!

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Gold: 

 

One of you asked about options.  While the Captain isn’t a financial advisor and isn’t comfortable getting into exact strike prices, contracts and rollover dates in the newsletter, and rightly so, Editor Stu is a former broker and current fund manager and will provide some “Using Options, ETFs, and Futures” with Ewave” pointers early this week.

 

Note that the Captain has a BITCOIN section in the weekly charts post now!

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821gold.png

 

Long Term Update:

 

Gold was sharply lower this past week reaching a low of 1714.90, closing at 1728.80.

                                                                          

We continue to drop in wave ^ii^, which has the following retracement levels:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1767.70;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1694.50.

 

Wave ^ii^ is still underway and has become a double 3 wave corrective pattern as shown on our Daily Gold Chart, as we continue to fall in our second wave (c) of ^ii^.

 

We have dropped well within our current retracement zone, so we need to be guard for the completion of all of wave ^ii^ and that start of a very sharp rally in wave ^iii^.

 

Confirmation of the completion of wave ^ii^ will now occur if we rally above the 1815.20 high, which is the upper end of our expanded ending diagonal triangle formation which is our second wave (c).

 

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

 

*iii* = 1.618*iii* = 2306.30.

 

We do have higher projections also.     

                              

Active Positions: Long with puts as stops, and we added more at 1735.00 on Friday! 

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821si.png

 

Long Term Update:

 

Silver was initially higher this past week reaching a high of 28.42, but after that high was made we moved lower reaching a low of 26.16, closing at 26.44.  

                                                                  

We continue to believe that wave ii of 3 is still underway, with the following retracement levels:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 20.78;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 18.62.

 

We are still falling in wave c which has a minimum target of the wave a low of 21.81, but likely lower…somewhere within our above-mentioned retracement zone.

 

However, based on what silver is doing compared to gold we are not so sure that silver is going to fall very much from these current levels.

 

It could be possible that all of wave ii in silver ended at the 21.96 low and in that case we have already starting rallying in wave iii.

 

We will give this market another week to see if this is what is really happening.

 

We did have a key weekly reversal lower this past week, which could be suggesting lower 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.

 

We plan to add to our long silver positions at 19.50.

 

Active Positions: Long at 14.85, with a put as a stop, and will add at 19.50!

 

US 10 Year Bond Yield:

 

Long Term Update:

 

The 10 Year US Bond Yield was sharply higher this past week reaching a high of 1.614{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}, but the end of the week we had closed only modestly higher, at 1.460{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}.

 

We continue to rally higher in this market and now have now reached our 78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level for all of wave ^ii^, which is:

 

78.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1.580{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1}

 

For our current analysis to remain valid we need to move lower from these levels in the start of a wave ^iii^ drop otherwise we need to conclude that the multi-year bear market in rates is complete at the 0.386{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} low and that we have started to climb higher again for years to come.  

 

Active Positions: Flat.

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821oil.png

 

Long Term Update:                                                                          

             

Crude was higher this past week reaching a high of 63.81 closing at 61.60.                                                                                      

 

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.

 

Within wave (iii), we continue to rally higher in wave -i-, although it may be complete now at the 63.81. high. We have arrived at the multi-year downtrend line that is shown on our Weekly Crude Chart.

 

If wave -i- is now complete at the 63.81 high then we should expect a wave -ii- correction that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave -i- rally, as the next big event in this market.

 

We will provide those retracement levels once we believe that all of wave -i- is complete.

 

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/2021/02/ewfeb2821su.png

 

Long Term Update:

 

Suncor moved higher this past week reaching a high of 21.86, closing at 19.86.

 

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-.    

 

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

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821sp.png

 

Long Term Update:

 

The SP500 was sharply lower this past week reaching a low of 3789.54, closing at 3811.55.

 

It is starting to look like all of wave -iii- could finally be complete at the 3950.43 high. If that is the case then we should expect a wave -iv- correction that retraces between 23.6 to 38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave -iii- rally.

 

We will give this market another day or so to see which way it goes, as there appears to be an in complete ending diagonal triangle forming on the SP500 Daily Chart.

 

If this observation is correct, then the SP500 needs one more rally after the 3950.43 high for it to be complete. A drop now below 3694.12 would eliminate this pattern from consideration and confirm that all of wave -iii- is complete at the 3950.43 high.

 

In the longer term our initial projected end point for all of wave (iii) is:

 

(iii) = 1.618(i) = 4001.14.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2921usd.png

 

Long Term Update:

 

The USDX was initially lower this past week reaching a low of 89.68, but after that low was made we moved higher reaching a high of 90.98, closing at 90.88.

 

Wave -iii- is now complete at the 89.17 low and we are rallying in wave -iv- which has the following retracement levels:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 91.95;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 93.68.

 

Wave -iv- should take a month or so to develop.

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821cdnx.png

Long Term Update:

 

The CDNX was initially higher this past reaching ahigh of 1113.64. After that high was made we moved sharply lower reaching a low of 988.56, closing at 1018.50~

 

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

 

.iii. = 1.618.i. = 1357.02    

 

We continue to rally in wave -i- of .iii.. Within wave -i- we have now completed wave (iii) of -i-of .iii. at the 1113.64 high and we are now dropping in wave (iv), which has the following retracement levels:

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 1010.47;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 946.64.

 

We have already entered our retracement zone, plus we also have a 3 wave corrective pattern on the Daily CDNX Chart.

 

Although the time for this corrective pattern to develop has been short, from and Ewaves point of view we cannot rule the that all of wave (iv) is now complete at the 988.56 low and that we have started to rally higher again in wave (v) of -i- of .iii..

 

Wave (iv) could also become more complex and even a bullish triangle. also.                            

 

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

 

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

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821gdx.png

 

Long Term Update:

 

The GDX was sharply lower this past week reaching allow of 30.90, closing at 31.13.

 

With Friday’s low of 30.90, we have now reached our 50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level for all of wave *ii* which is :

 

50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 30.98;

61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 27.49.

 

The 30.90 low is also a major support line, which we believe will hold.

 

We now need to be on guard for the completion of wave *ii* and the start of a major 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 at 31.50.

 

Bitcoin: 

 

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/02/ewfeb2821bit.png  

 

Long Term Update:

 

We have started to track Bitcoin, at least on a weekly basis to start.

 

Bitcoin started trading in 2014 and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer term Bitcoin appears to rising in an incomplete impulse fashion as we are getting close to finishing an impulsive sequence with wave (3) of 1 or A ending at the 58349 high. We are now falling in wave (4) which has a current low of 43665, which is just within our retracement level for all of wave (4) which is:

 

23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 45327;

38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} = 37271.

 

We therefore need to be on guard o the completion of all of wave (4) at the current low, however, we think more time will be needed for the wave (4) correction to develop. It will likely take a more or so for all of wave (4) to develop, and it might even become a bullish triangle formation. After wave (4) ends we expect another rally above the 58349 high in wave (5) to complete either all of wave 1 of a wave B.