Category Archives: Intra Day Notes



On the Intraday Chart gold has now satisfied the minimum requirements for a completed triangle formation at the 1099.00 low.


If this triangle is now complete, then we should expect a sharp thrust higher. Remember that triangles like to extend also, which would just delay the thrust action!


jan 8 cbone & gold note



We had provided a long term CD$ EWave Analysis some time ago, and in that analysis we indicated that the CD$ was very close to completing wave B of a multi-year ABC drop, going from 1.10 to the current lows.

We believe that that drop is now over and we have decided to go long the CD$ futures, risking to this week’s low. We are risking to 1.4180, on the Cash market!!



Wave ^iii^ may not be over… could be extending now to 1148ish area.

If we hold the 1097.40 support, then I suspect we will get our extension!



jan 29 captain’s note

Captain's Note

I'm travelling today, but watching the Ewaves closely:

Gold was sharply lower in the overnight session, dropping to 1264.40, and well below our assumed wave ^iv^ low of 1273.30. In the day session it dropped even more sharply...

The depth of this correction is suggesting to us that this may not be a wave ^iv^, but wave *ii* in an extending wave ^iii^. This would actually be a very bullish development.

st comments:  I think India is going to cut the import duties; I think finance minister Jaitley has been told he'll be fired if he doesn't cut them, and I think the banksters know this, and are covering massive numbers of short positions, and piling on longs, and this is the fundamental driver of the "impossibly" growing bullishness of the Captain's wave counts. Now back to the Captain:

As of 4pm, here's the bull counts for gold are still on. Most, if not all of wave *ii* is likely over with a retracement of about 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the wave *i* rally.


Captain Out!

Sent from my iPhone


jan 24 weekend special usd update!

Special US Dollar Weekend Update     




Please click here now for the wave ii Ewave analysis:

For the last several weeks, the USDX had been rallying almost vertically.

A month or so ago we posted our long term and short term charts on the USDX. The long term chart started at the 164.72 high made back in 1985. In general, we believe that from that high we have been dropping in multi-year ABC pattern. Wave A ended at 80.78, in 1991 and wave B ended at 121.21 in 2001. Wave B retraced about 50{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the wave A drop. Within wave C, we completed wave i at 71.46 in 2008 and have been rallying in a corrective fashion in wave ii, since that time.

We have spent some time on updating our detailed wave ii analysis and nothing has really changed within that original analysis except for the second wave (c). As the attached chart indicates, wave ii consists of two (a), (b), (c ) patterns. The first (a), (b), (c) pattern ran from 71.46 to 88.71. This was then followed by a wave (x) that consisted of two -a-, -b-, -c- patterns and ended at 72.70. The second (a), (b) (c) pattern looks like:

(a) = 84.10. Wave (a) consist of two -a-, -b-,-c- patterns;;

(b) triangle = 78.93.

(c) is now.

We had originally thought that wave (v) was going to end at the 89/90 level, which is about where wave .i. ended. What has really happened is that instead of wave -iii- being the longest leg, wave -v- is. Within our extended wave -v-, we have the following:

.i. = 89.57;

.ii. = 87.83;

.iii. = 95.78, if complete. Note the .iii.=1.618.i. projection target of 95.98!

.iv.  correction is next to be followed by a wave .v. rally to at least the wave .iii. high. This will end the second wave (c ) and all of wave ii.

What we want to draw you attention to is the projected end of the second wave (c). Using two different calculations we have a projected end at 97.38. This is a very powerful tool and we will be watching this level for a huge shorting opportunity.

 Although we are not fundamentalists, we are not sure what is going to get the USDX to collapse.... Debt issues, loss of confidence in the government, etc...


In the long term we can also project an end to wave C. If wave C=A=37.27. Guess where gold and our gold stock trades will be at when the USDX is at 37!



JAN 23 intraday gold/gdx #2



The sell-off in gold has increased pretty much as expected, as we now have reached a low today of 1284.60. In spite of this drop, the options that we talked about in today’s Morning Post both remain valid. We continue to

lean towards the triangle option as the preferred outcome for all of wave ^iv^. If the triangle is unfolding then wave *c* of that formation may have ended at 1284.60. Only a break below 1279.70, would eliminate the triangle option.



Although we did not show this projection on the latest 60 Min GDX chart, the .c.=.a. target for wave -iv- is 21.83, with today’s current low being 21.83 also. The 21.83 low is now within our 23.6 to 38.2{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement zone. No sign of a bottom, yet however.

jan 23 gdx intraday note


The GDX has now satisfied the minimum requirements for a completed .a., .b., .c. correction within wave -iv- as wave .c. has traded below wave .a.

We are still above our projected retracement zones, but wave structure is always more important than retracement levels. The low in the GDX, so far is 22.05, which is just above the 23.6{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} retracement level of 21.93.


We note that gold is still well above the 1279.70 level, but we are also watching the triangle formation!