Category Archives: Morning Post

may 5 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay521cdnx.png

 

Short Term Update:

 

The CDNX was lower in yesterday’s trading session reaching a low of 935.19, closing at 944.49. Note the possible head and shoulders bottom pattern on our CDNX Daily Chart.

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low. If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay521gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay521gdxd.png

Short Term Update:

 

The GDX was initially higher in yesterday’s trading session reaching a high of 36.33, although we closed lower at 35.31.

 

We are now rallying sharply higher in the initial stages of wave *iii*.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70     

 

Within wave -iii-, wave $i$ ended at 36.84 and likely all or most of wave $ii$ at 34.31, although we are still a little short of our minimum retracement levels for all of wave $ii$ which are:

 

50% = 34.24;

61.8% = 33.63.

 

We now need to be on guard for the completion of all of wave $ii$ of -iii- and the start of a sharp rally higher in wave $iii$ of -iii-. We will provide our initial projections for the end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Since the 34.31 low is still above our 50% retracement level, we are still not sure whether wave $ii$ will not become more complex and therefore drop back to those lows one more time before all of wave $ii$ ends.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay521gold.png

 

Short Term Update: 

 

Gold was initially marginally higher in yesterday’s day session reaching a high of 1799.50, but after that high was made we moved lower reaching 1770.40.

 

In the overnight session we have moved higher reaching a high of 1782.60.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We should now be rallying in wave -iii- and expect to continue to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart we have completed a first wave rally from 1754.90 to 1799.50, so the current setback is a correction of that impulsive move.

 

Based on what we see on the Intraday Chart we expect another visit back to yesterday’s low of 1770.40 to complete a 3wave corrective pattern.

 

Our next resistance is the 1795/1800 level which we expect to break through in the few days, after this current small corrective pattern ends.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay521si.png

 

Short Term Update:

 

Silver was initially higher in yesterday’s day session reaching ahigh of 27.23. After that high was made we moved lower reaching a low of 26.17.

 

In the overnight session we have moved higher reaching a high of 26.71.

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*.

 

On the Intraday Chart the rally from 25.74 to 27.23 is completed impulsive sequence and the current setback is a correction of the rally.

 

Like gold, we expect silver to drop more time back to at least back to the 26.17 low to complete all of this 3 wave corrective pattern. After that silver should be heading sharply higher again.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                          

 

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay521bond.png  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.557%. In the overnight session we have moved higher reaching a high of 1.614%!

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay521spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay521sp120.png

 

Short Term Update:

                                                             

The SP500 was lower in yesterday’s trading session reaching a low of 4128.59. In the overnight session the SP500 Futures are up about 18 points!

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments, although we appear to pretty much completed a five wave impulsive sequence within wave

-v- of (iii), which is signaling its completion, as shown on the 120 Min SP500 Chart.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

                                                                                                                     

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay521usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached high of 91.44!

 

We continue to fall in wave -v-.  

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay521oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 66.64!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^, although it may now be complete at the 66.64 high. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

may 4 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay421cdnx.png

 

Short Term Update:

 

The CDNX was marginally higher in yesterday’s trading session reaching a high of 962.05, closing at 958.66! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low.

 

If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay421gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay421gdxd.png

 

Short Term Update:

 

The GDX was sharply higher in yesterday’s trading session reaching a high of 35.89, closing at 35.68!

 

We are now rallying sharply higher in the initial stages of wave *iii*.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70     

 

Within wave -iii-, wave $i$ ended at 36.84 and likely all or most of wave $ii$ at 34.31, although we are still a little short of our minimum retracement levels for all of wave $ii$ which are:

 

50% = 34.24;

61.8% = 33.63.

 

We now need to be on guard for the completion of all of wave $ii$ of -iii- and the start of a sharp rally higher in wave $iii$ of -iii-. We will provide our initial projections for the end of wave $iii$, when we believe all of wave $ii$ is complete.

 

Since the 34.31 low is still above our 50% retracement level, we are not sure whether wave $ii$ may still become more complex and therefore drop back to those lows one more time before all of wave $ii$ ends.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay421gold.png

 

Short Term Update: 

 

Gold moved higher in yesterday’s day session reaching ahigh of 1798.10.

 

In the overnight session we have moved lower reaching a low of 1780.20.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We should now be rallying in wave -iii- and expect to continue to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart the drop from 1798.30 to the current low of 1754.60 looks corrective which is suggesting that once this correction ends, gold will be moving higher again. Our next resistance level is the 1795/1800 level which we expect to break through in the next day or so.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay421si.png

 

Short Term Update:

 

Silver was sharply higher in yesterday’s day session reaching a high of 27.11.

 

In the overnight session we have moved lower reaching a low of 26.81.

 

Longer term we continue to rally higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. as predicted we have now broken above the 26.74 this week, with next resistance will be 28.34.

 

On the Intraday Chart the drop from 27.11 to the current low of 26.81 is corrective looking which is suggesting that once this corrective pattern ends, silver will move higher again.

 

A drop back to the 26.74 level could occur as a test of yesterday’s breakout of that level, after which we should move higher again.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay421bond.png  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.578%.

 

In the overnight session we have moved higher reaching a high of 1.624%.

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay421spd.png

 

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay421sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching a high of 4209.39.

 

In the overnight session the SP500 Futures are down about 18 points!

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments, although we appear to pretty much completed a five wave impulsive sequence within wave

-v- of (iii), which is signaling its completion, as shown on the 120 Min SP500 Chart.

 

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

 

If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

                                                                                                                     

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay421usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 90.85.

 

In the overnight session we have moved higher reaching a high of 91.38.

 

We continue to fall in wave -v-.  

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay421oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 65.84!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^, although it may now be complete at the 65.84 high. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

 

may 3 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay321cdnx.png

 

Short Term Update:

 

The CDNX was marginally higher in Friday’s trading session reaching a high of 955.26 and we closed on the high of 955.26! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect its completion very soon, likely at the 909.06 low.

 

If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay321gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay321gdxd.png

 

Short Term Update:

 

The GDX was marginally lower in Friday’s trading session reaching a low of 34.31, closing at 34.36.

 

We are now rallying sharply higher in the initial stages of wave *iii*.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low.

 

We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70     

 

Within wave -iii-, wave $i$ ended at 36.84 and likely all or most of wave $ii$ at 34.31, although we are still a little short of our minimum retracement levels for all of wave $ii$ which are:

 

50% = 34.24;

61.8% = 33.63.

 

We now need to be on guard for the completion of all of wave $ii$ of -iii- and the start of a sharp rally higher in wave $iii$ of -iii-. We will provide our initial projections for the end of wave $iii$, when we believe all of wave $ii$ is complete.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay321gold.png

 

Short Term Update: 

 

Gold moved sideways in Friday’s day session. In the overnight session we have moved higher reaching a high of 1784.90!

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart the drop from 1798.30 to the current low of 1754.60 looks corrective which is suggesting that once this correction ends, gold will be moving higher again.

 

We appear to again be testing the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We still expect higher prices ahead with next resistance at the 1815.00 level.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay321si.png

 

Short Term Update:

 

Silver moved sideways in Friday’s day session. In the overnight session we have moved higher reaching a high of 26.45!

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. We should challenge the resistance level of 26.74 again this week which we still expect to break through, after which next resistance will be 28.34.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay321bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in Friday’s day session reaching a low of 1.622%.

 

In the overnight session we have moved higher reaching a high of 1.651%.

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

                                                                                                                    

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay321spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay321sp120.png

 

Short Term Update:

                                                             

The SP500 was lower in Friday’s trading session reaching a low of 4174.85. In the overnight session the SP500 Futures are up 21 points!

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are looking at our internal wave count for all of wave v, as the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/05/ewmay321usd.png

 

Short Term Update:

 

The USDX was sharply higher in Friday’s day session and that trend higher has continued in the overnight session as we have reached a high of 91.39!

 

After that high was made we have dropped off to currently be trading at the 91.13 level.

 

We continue to fall in wave -v-.  

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/05/ewmay321oil.png

 

Short Term Update:

 

Crude was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 62.95!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^, although it may now be complete at the 65.47 high. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

apr 30 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021cdnx.png

 

Short Term Update:

 

The CDNX was initially marginally higher in yesterday’s trading session reaching a high of 955.13, although we closed lower at 945.56. 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low. If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021gdx.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 34.38, closing at 34.77.

 

We are now rallying higher in the initial stages of wave *iii*.

 

Longer term our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70     

 

Within wave -iii-, based on the drop in yesterday’s trading we have updated our internal count for wave -iii- to suggest that wave $i$ ended at 36.84 and likely all or most of wave $ii$ at 34.38, although…

 

we are still a little short of our minimum retracement levels for all of wave $ii$ which are:

 

50% = 34.24;

61.8% = 33.63.

 

We now need to be on guard for the completion of all of wave $ii$ of -iii- and the start of a sharp rally higher in wave $iii$ of -iii-. We will provide our initial projections for the end of wave $iii$, when we believe all of wave $ii$ is complete.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021gold.png

  

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1754.60. After that low was made we moved higher reaching a high of 1774.50. In the overnight session we have moved lower, reaching 1765.20.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50.

 

We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart the drop from 1798.30 to the current low of 1754.60 looks corrective which is suggesting that once this correction ends, gold will be moving higher again.

 

We appear to again be testing the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We still expect higher prices ahead with next resistance at the 1815.00 level.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021si.png

 

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 25.75. After that low was made we moved higher reaching a high of 26.18. In the overnight session we have moved lower reaching a low of 25.93!

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. Last week we reached our next resistance level of 26.74 which we still expect to break through, after which next resistance will be 28.34.

 

On the Intraday Chart the drop from 26.72 to the current low of 25.75 is corrective looking which is suggesting higher prices lie ahead after this corrective pattern ends.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.640%. In the overnight session we have moved sideways currently trading at the 1.645% level.

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr30spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021sp120.png

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time new high at 4218.78. In the overnight session the SP500 Futures are down about 22 points!

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 90.88!

 

We continue to fall in wave -v-.  

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr3021oil.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session reaching ahigh of 65.47. In the overnight session as we have moved lower reached a low of 63.27.

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^, although it may now be complete at the 65.47 high. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

 

apr 29 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921cdnx.png

 

Short Term Update:

 

The CDNX was marginally higher in yesterday’s trading session reaching a high of 951.25, closing on its high of 951.25.

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low.

 

If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921gdxd.png

 

Short Term Update:

 

The GDX was initially lower in yesterday’s trading session reaching a low of 34.71, but we closed higher at 35.45!

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70     

 

Within wave -iii-, we appear to have completed wave $i$ at 34.59 and wave $ii$ at 33.83. If that is the case we are now rallying in wave $iii$ which also now appears to be subdividing with wave !i! ending at 36.84 and all or most of wave !ii! at the 35.25 low. Our retracement levels for all of wave !ii! are:

 

50% = 35.34;

61.8% = 34.98.

 

We have now reached our 61.8% retracement level for all of wave !ii! so we need to be on guard for its completion and the start of a sharp wave !iii! rally. We will provide for first projection for the end of wave !iii!, when we believe all of wave !ii! is complete.

 

Our updated projection for the end of wave $iii$ is:

 

$iii$ = 2.618$i$ = 41.53.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921gold.png

 

Short Term Update: 

 

Gold was initially lower in yesterday’s day session reaching a low of 1761.80. After that low was made we moved higher and that trend higher continued in the overnight session as we have reached a high of 1789.90.

 

We have since dropped off to currently be trading at the 1775.00 level.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart the drop from 1798.30 to the current low of 1763.00 looks corrective which is suggesting that once this correction ends, gold will be moving higher again. We appear to again be testing the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We still expect higher prices ahead with next resistance at the 1815.00 level.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921si.png

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 26.55!

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. Last week we reached our next resistance level of 26.74 which we still expect to break through, after which next resistance will be 28.34.

 

On the Intraday Chart the drop from 26.72 to the current low of 25.86 is corrective looking which is suggesting higher prices lie ahead after this corrective pattern ends.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.661%.

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921spd.png

 

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921sp120.png

 

Short Term Update:

                                                             

The SP500 was marginally higher in yesterday’s trading session reaching another all-time new high at 4201.83, but closing marginally lower at 4183.18.

 

In the overnight session the SP500 Futures are up about 28 points.

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 90.39!

 

We continue to fall in wave -v-.  

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2921oil.png

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 65.06!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, as we continue to rally higher in an incomplete wave ^b^. After wave ^b^ ends we expect another drop in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

apr 28 morning post!

 Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821cdnx.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session, reaching a high of 951.23, closing on its high of 946.61. 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low. If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821gdxd.png

 

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 35.25, closing at 35.30.

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, but based on the internal wave structure for wave -iii- we now believe we subdividing which is suggesting that a higher initial target is in order for wave -iii- which is now:

 

-iii- = 2.618-i- = 41.70!     

 

Within wave -iii-, we appear to have completed wave $i$ at 34.59 and wave $ii$ at 33.83. If that is the case we are now rallying in wave $iii$ which also now appears to be subdividing with wave !i! ending at 36.84 and all or most of wave !ii! at the 35.25 low. Our retracement levels for all of wave !ii! are:

 

50% = 35.34;

61.8% = 34.98.

 

We have now reached our 50% retracement level for all of wave !ii! so we need to be on guard for its completion and the start of a sharp wave !iii! rally. We will provide for first projection for the end of wave !iii!, when we believe all of wave !ii! is complete.

 

Our updated projection for the end of wave $iii$ is:

 

$iii$ = 2.618$i$ = 41.53.

 

In spite of the recent setback, the GDX is looking very bullish from an Ewaves point of view.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821gold.png

 

Short Term Update: 

 

Gold was marginally higher in yesterday’s day session reaching a high of 1785.70. After that high was made we moved lower and that trend lower has continued in the overnight session as we have reached a low of 1763.00.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

On the Intraday Chart the drop from 1798.30 to the current low of 1763.00 looks corrective which is suggesting that once this correction ends, gold will be moving higher again.

 

We appear to again be testing the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We still expect higher prices ahead with next resistance at the 1815.00 level.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821si.png

 

Short Term Update:

 

Silver was initially higher in yesterday’s day session reaching a high of 26.51. After that high was made we moved lower and that trend lower has continued in the overnight session as we have reached a low of 25.86.

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. Last week we reached our next resistance level of 26.74 which we still expect to break through, after which next resistance will be 28.34. On the Intraday Chart the drop from 26.72 to the current low of 25.86 is corrective looking which is suggesting higher prices lie ahead after this corrective pattern ends.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.638%

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewpar2821sp120.png

 

Short Term Update:

                                                             

The SP500 moved sideways in yesterday’s trading session closing marginally lower at 4186.72. In the overnight session the SP500 Futures are almost unchanged

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr1621usd.png

 

Short Term Update:

 

The USDX was marginally higher in yesterday’s day session and that trend higher continued early in the overnight session as we have reached a high of 91.11.

 

All of wave -iv- is now complete at the 93.47 high and we are now starting to fall in the initial stages of wave -v-.  

 

We should continue to drop. On the Intraday Chart the small rally from 90.66 to the current high of 9.11 looks corrective which is suggesting that after this correction ends the USDX will be heading lower again.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2821usd.png

 

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 63.66!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, and all or most of wave ^b^ at the 64.38. We also had a key daily reversal this week which likely marks the end of wave ^b^. We should now be dropping in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

apr 27 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721gdxd.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 943.39, closing on its high of 943.39! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low.

 

If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721gdxd.png

 

Short Term Update:

 

The GDX was marginally lower in yesterday’s trading session reaching a low of 35.81, closing at 35.98!

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 37.86     

 

Within wave -iii-, we appear to have completed wave $i$ at 34.59 and wave $ii$ at 33.83. If that is the case we are now rallying in wave $iii$, which has the following initial projected endpoint:

 

$iii$ = 1.618$i$ = 38.59

 

We have updated our internal wave count for wave -iii- to suggest that we are still moving higher in wave $iii$, although we could still see some sideways trading for the next day or so before we thrust higher. After wave $iii$ ends we expect a wave $iv$ correction that retraces between 23.6 to 38.2% of the entire wave $iii$ of -iii- rally.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session reaching a high of 1783.30. In the overnight session we have moved sideways currently trading at the 1782.10 level.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

In the last day or so it looks like we successfully tested the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We expect higher price ahead with next resistance at the 1815.00 level. On the Intraday Chart we appear to be working on a bullish triangle formation that remains incomplete. It will likely take a couple more days to complete before we thrust higher. We estimate the thrust higher could be between $30 to $40.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 26.36!

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. Last week we reached our next resistance level of 26.74 which expect to break through in the next day or so, after which next resistance will be 28.34. On the Intraday Chart silver also appears to be working on an incomplete bullish triangle formation that will likely take a few more days to complete. After it ends we expect a thrust higher in silver. We estimate the thrust in silver to be between 80 to 100 ticks.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/eewapr2721bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.556%. In the overnight session we have moved higher reaching a high of 1.588%!

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewpar2721sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching another all-time new high of 4194.19. In the overnight session the SP500 Futures are up about 4 points.

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session and that trend higher continued early in the overnight session as we have reached a high of 91.05. After the high was made we started to move lower current trading at the 90.85 level.

 

All of wave -iv- is now complete at the 93.47 high and we are now starting to fall in the initial stages of wave -v-.  

 

We should continue to drop.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2721oil.png

 

Short Term Update:

 

Crude was initially lower in yesterday’s day session reaching a low of 60.66. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached a high of 62.73!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, and all or most of wave ^b^ at the 64.38. We also had a key daily reversal this week which likely marks the end of wave ^b^. We should now be dropping in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

apr 26 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621cdnx.png

 

  Short Term Update:

 

The CDNX was higher in Friday’s trading session reaching a high of 930.63, closing on its high of 930.63! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low. If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621gdxd.png  

 

Short Term Update:

 

The GDX was lower in Friday’s trading session reaching a low of 35.95, closing at 36.09!

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 37.86     

 

Within wave -iii-, we appear to have completed wave $i$ at 34.59 and wave $ii$ at 33.83. If that is the case we are now rallying in wave $iii$, which has the following initial projected endpoint:

 

$iii$ = 1.618$i$ = 38.59

 

We have updated our internal wave count for wave -iii- to suggest that we are still moving higher in wave $iii$, although we could still see some sideways trading for the next day or so before we thrust higher. After wave $iii$ ends we expect a wave $iv$ correction that retraces between 23.6 to 38.2% of the entire wave $iii$ of -iii- rally.                

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621gold.png   

 

Short Term Update: 

 

Gold was lower in Friday’s day session reaching a low of 1769.50. After that low was made we moved higher reaching a high of 1783.10. After that high we made we moved lower reaching a low of 1768.40

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

In the last day or so it looks like we successfully tested the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We expect higher price ahead with next resistance at the 1815.00 level. On the Intraday Chart we appear to be working on a bullish triangle formation that remains incomplete. It will likely take a couple more days to complete before we thrust higher.

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621si.png

 

 Short Term Update:

 

Silver moved lower in Friday’s day session reaching a low of 25.89. After that low was made we moved higher reaching a high of 26.20. In the overnight session we have moved lower reaching a low of 25.96

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. We have now reached our next resistance level of 26.74 which expect to break through in the next day or so, after which next resistance will be 28.34.

 

On the Intraday Chart silver also appears to be working on an incomplete bullish triangle formation that will likely take a few more days to complete. After it ends we expect a thrust higher in silver.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621bond.png

 

  Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in Friday’s day session. In the overnight session we have moved higher reaching a high of 1.595%!

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621sp.png  

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621sp120.png

 

  Short Term Update:

                                                             

The SP500 was sharply higher in Friday’s trading session reaching a high of 4191.17. In the overnight session the SP500 Futures are basically unchanged.

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621usd.png

 

  Short Term Update:

 

The USDX was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 90.66, although since making that low we have recovered some of those losses to currently be trading at the 90.90 level

 

All of wave -iv- is now complete at the 93.47 high and we are now starting to fall in the initial stages of wave -v-.  

 

We should continue to drop.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2621oil.png

 

Short Term Update:

 

Crude was lower in Friday’s day session and that trend lower has continued in the overnight session as we have reached a low of 60.87!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, and all or most of wave ^b^ at the 64.38. We also had a key daily reversal this week which likely marks the end of wave ^b^. We should now be dropping in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

apr 23 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321cdnx.png

 

Short Term Update:

 

The CDNX was initially higher in yesterday’s trading session reaching a high of 936.26, but closing lower at 919.00! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low.

 

If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321gdxd.png

  

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 35.96, closing at 36.18.

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 37.86     

 

Within wave -iii-, we appear to have completed wave $i$ at 34.59 and wave $ii$ at 33.83. If that is the case we are now rallying in wave $iii$, which has the following initial projected endpoint:

 

$iii$ = 1.618$i$ = 38.59

 

It could be possible that all of wave $iii$ ended short of our projected endpoint at the 36.64 high, and if that is the case then we are now working on wave $iv$ as shown on the 60 Min GDX Chart. In our mind wave $iii$ is a bit short for our liking so we will see how this market trades over the next couple of days.                  

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1777.30.

After that low was made gold moved higher and that trend higher has continued in the overnight session and we have reached high of 1795.20.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

In the last day or so it looks like we successfully tested the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We expect higher price ahead with next resistance at the 1815.00 level..

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321si.png

 

Short Term Update:

 

Silver moved lower in yesterday’s day session reaching a low of 26.02. After that low was made we moved higher and that trend higher has continued in the overnight session as we have reached high of 26.41

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. We have now reached our next resistance level of 26.74 which expect to break through in the next day or so, after which next resistance will be 28.34.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved lower in yesterday’s day session reaching a low of 1.542%. In the overnight session we have moved sideways currently trading at the 1.545% level!

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewap2321sp120.png

 

Short Term Update:

                                                             

The SP500 was initially marginally higher in yesterday’s trading session reaching a high of 4179.57, although we closed lower at 4124.98. In the overnight session the SP500 Futures are up about 7 points.

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 90.91!

 

All of wave -iv- is now complete at the 93.47 high and we are now starting to fall in the initial stages of wave -v-.  

 

We should continue to drop.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2321oil.png

Short Term Update:

 

Crude was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 62.10!

 

On the Intraday Chart the rally form 60.61 to the current high of 62.10 looks corrective, which is suggesting lower prices, after this corrective pattern ends.

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, and all or most of wave ^b^ at the 64.38. We also had a key daily reversal this week which likely marks the end of wave ^b^. We should now be dropping in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew

 

 

APR 22 MORNING POST!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221cdnx.png

 

Short Term Update:

 

The CDNX was higher in yesterday’s trading session reaching a high of 929.16, closing at 928.91! 

 

Longer term we are continuing to rally higher in wave (i) of -iii-. Within wave (i) we believe we completed wave $i$ of (i) of -iii- at the 999.86 high.

 

If that is the case then we are now dropping in wave $ii$, which has the following retracement levels:

 

 

50% = 933.56

61.8% = 917.91.

 

We have now exceeded our 61.8% retracement level so, if our current analysis for wave $ii$ is correct, we should expect it’s completion very soon, likely at the 909.06 low. If that is the case then we should see the CNDX start to move starting higher in wave $iii$. We will provide our first projected endpoint for all of wave $iii$, after we believe that all of wave $ii$ is complete.

 

Longer term all of wave -iii- has an initial projected endpoint of:

 

-iii- = 1.618-i- = 1592.50.

 

We should continue to rally sharply higher in wave .iii., which has an initial projected endpoint of:

 

.iii. = 1.618.i. = 1357.04.

 

Since the current projected endpoint for wave .iii. is lower than for wave -iii-, we should expect that wave .iii. will head to our second projected endpoint which is:

 

.iii. = 2.618.i. = 1784.50.

 

Trading Recommendation: Long the GDXJ as a long-term hold.                   

 

Active Positions: Heavily long the GDXJ and key juniors on the CDNX, as a long-term hold!  

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 36.83 and closing on its high of 36.83!

 

We are now starting to rally sharply higher in the initial stages of wave *iii*.

 

Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 78.66!

 

Within wave *iii* we are now rallying in wave ^i^ and within wave ^i^ we look to have completed wave -i- at the 34.48 high and all of wave -ii- at the 31.65 low. We are now rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 37.86     

 

Last week we aggressively broke above our seven (7) month upper red downtrend line that has defined the upper bound of our wave *ii* correction. In the days ahead we may drop back to test this breakout, but we do not have to, before we continue to move sharply higher.

 

We should now be heading higher to at least reach our first projected endpoint for wave -iii- at the 38.00 level.                         

 

Our updated projection for the end of wave -3- is:

 

3 = 2.618 (1) = 66.37.

 

We do have higher projections, however, as gold is likely heading well above $5000/oz.

 

Our current analysis for these gold stocks and indices is as follows:

 

Kinross(Updated December 03):

 

We continue to rally in subdividing wave -iii- of (iii), which has an updated projection for its completion of:

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and are now falling in wave .ii., which has the following retracement levels:

 

50% = 7.12;

61.8% = 6.88.

 

We have now entered this retracement zone with a current low of 6.88, so we need to be on guard for the end of wave .ii., and the start of a very sharp rally in wave .iii. of -iii-.

 

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

 

(iii) = 4.25(i) = 21.55.

 

Wave -iii- and (iii) can extend higher also.

 

Barrick (Updated December 02):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 31.01 and are now dropping in wave -ii- which that following retracement levels:

 

50% = 21.83;

61.8% = 19.66.

 

Our current low if 22.22 for our wave -ii- drop is 22.22, which is very close to our 50% retracement level, so we need to be on guard for its completion at that low.  After wave -ii- ends we expect a very sharp rally in wave -iii-. We will provide our first projected endpoint for wave -iii when we are sure that all of wave -ii- is complete.

 

Our current projected endpoint for all of wave (iii) is:

 

(iii) = 2.618(i) = 45.24.

 

Newmont Goldcorp: We are now rallying in (v) of iii, which has the following projected endpoint:

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 01): We are now rallying in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

Within wave 3 we are rallying in wave iii, which has the following projected endpoints:

 

iii = 2.618i = 481.46.

 

Within wave iii, we are now subdividing with wave (i) of iii ending at the 373.85, and we are now correcting with wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.77.

 

XAU (Updated December 04): We are now rallying in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we are rallying in wave -iii- which is now subdividing with wave .i. of -iii- ending at 165.36. We are now falling in wave .ii., which has the following retracement levels:

 

50% = 114.04

61.8% = 101.93.

 

Wave -iii- has a current projected endpoint of:

                                                 

-iii- = 2.618-i- = 201.84.

 

Trading Recommendation: Long Term hold of all gold stocks and indices.

 

Active Positions: We remain long the GDX, ABX, KGC, NEM, SSRM, and TSX:XGD with no stops!! 

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session reaching a high of 1798.40. In the overnight session we moved lower reaching a low of 1783.40.

                                                                                           

We are now rallying in wave (i) of *iii* and within wave (i) we completed wave -i- at the 1738.00 and all of wave -ii- at the 1677.50. We have now exceeded our first projected endpoint for all of wave -iii- which is:

 

-iii- = 1.618-i- = 1782.70.

 

We are looking at wave -iii- continuing to move higher to our next projected endpoint which is:

 

-iii- = 2.618-i- = 1846.70.

 

In the last day or so it looks like we successfully tested the breakout of our horizontal red trendline connecting the lows at 1767.20 and 1759.00. We expect higher price ahead with next resistance at the 1815.00 level..

 

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

 

^iii^ = 1.618^i^ =  2687.80.

 

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

 

*iii* = 1.618*i* = 2306.30.

 

We have higher projections also.

 

Trading Recommendation: Long gold. Use puts as stops. 

 

Active Positions: We are long, with puts as stops! 

 

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr221si.png

Short Term Update:

 

Silver moved higher in yesterday’s day session reaching ahigh of 26.73. In the overnight session we moved lower reaching a low of 26.36.

 

Longer term all of wave (ii) ended at the 21.96 low, and we are now rallying higher in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 51.52.

 

Within wave (iii) all of wave -ii- is complete at the 23.79 low and that we are now rallying in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 34.22.

 

Within wave -iii-, we are still working on wave *i*. We have now reached our next resistance level of 26.74 which expect to break through today or tomorrow, after which next resistance will be 28.34.

 

Trading Recommendation: Long and using a put as a stop.

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield moved sideways in yesterday’s day session and that trend has continued in the overnight session where we are currently trading at the 1.566% level!

 

We are currently updating our US 10 Year Bond Yield Daily Chart to provide the internal wave count for all of wave (iii). We will continue to work on this this week.

 

US 10 Year Bond Yields made a multi-generational low at the 0.398% level and have started the long journey higher in a new bull market that will last decades. The era of low interest rates has now ended.

 

In the short term we are now rallying in wave (iii) in our first five wave impulsive sequence and within that sequence we are now rallying in wave (iii), which has an initial target of:

 

(iii) = 1.618(i) = 1.910%. 

 

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

 

It appears that much higher inflation is now coming.      

                                                                                                                                                                                       

Trading Recommendation: Flat.

 

Active Positions: Flat.

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221sp120.png

 

Short Term Update:

                                                             

The SP500 was higher in yesterday’s trading session reaching a high of 4175.02. In the overnight session the SP500 Futures are down by about 5 points.

 

Longer term we continue to rally in wave (iii), which has an initial projected endpoint of:

 

(iii) = 1.618(i) = 4001.14.

 

We continue to rally in wave -v- of (iii), which has projected endpoint as shown above at 4001.14. We have now reached our target for we need to be guard for its completion soon, unless it is now planning to extend to our next projected endpoint which would be:

 

(iii) = 2.618(i) = 4764.12.

 

We are also going to take a look at our internal wave count for all of wave v, as we think the subdivisions may need some adjustments.

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally. If wave (iii) was to end at around 4000 the expected drop in wave (iv) would be between 300 and 500 points.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221usd.png

Short Term Update:

 

The USDX was initially higher in yesterday’s day session reaching ahigh of 91.43. After that high was made we moved lower and that trend lower has continued in the overnight session as we have reached a low of 90.98!

 

All of wave -iv- is now complete at the 93.47 high and we are now starting to fall in the initial stages of wave -v-.  

 

We should continue to drop.

 

Projections for the end of wave -v- are:

 

-v- = 89.17;

-v- = 1.618-i- = 84.38;

-v- = 0.618(length of wave -iii-) = 0.618(100.97-89.17) = 86.18;

-v- = 1.618(length of wave -iii-) = 1.618(100.97-89.17) = 74.38.  

 

The continuing drop in the USDX should support our rallies in gold, silver and the GDX.                           

                                                                                                        

Trading Recommendation: Flat.

 

Active Positions: Flat. 

 

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2021/04/ewapr2221oil.png

Short Term Update:

 

Crude was lower in yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 60.62!

 

Longer term we continue to rally sharply higher in wave (iii), which the following longer term projected endpoint:

 

(iii) = 1.618(i) = 93.96.  

                                                                                                                                              

Wave $i$ of (iii) is now complete at the 67.98 high and we are now falling in wave $ii$ which has the following retracement levels:

 

50% = 50.81;

61.8% = 46.76.

 

Within wave $ii$, we believe that all of wave ^a^ ended at 57.25, and all or most of wave ^b^ at the 64.38. We also had a key daily reversal lower in yesterday’s trading session which likely marks the end of wave ^b^. We should now be dropping in wave ^c^ to complete all of wave $ii$.

 

This current weakness is also testing the major breakout of our 12 year downtrend line that started at the 147.00 high back in 2009. We expect we will break through this downtrend line decisively to move sharply higher after wave $ii$ ends.

 

Suncor: We continue to rally in wave iii which has the following initial projected endpoint:

 

iii = 1.618i = 30.28.

 

Within wave iii it now looks like wave -i- ended at 19.94 and wave -ii- at the 16.29 low.

 

We continue to rally higher in wave -iii-, which has a projected endpoint of:

 

-iii- = 1.618-i- = 31.29.

 

Price should keep moving higher over the next week or so.  

 

Trading Recommendation: Long crude with a put as a stop. Long Suncor.

 

Active Positions: Long crude with put as a stop! Long Suncor!                         

  

Thanks!

Captain & Crew