Category Archives: Morning Post

JAN 19 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan19cdnx.png

 

Short Term Update:

 

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

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922gdx60.png

 

GDX Daily Chart:  

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

 

Short Term Update:

 

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

 

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

 

50% = 31.99.

61.8% = 32.72.

 

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

 

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

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922gold.png

 

Short Term Update: 

 

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

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

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

 

50% = 1816.30;

61.8% = 1831.20.

 

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

 

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

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle. The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 23.91!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle. Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

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

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of all of wave $b$. After wave $b$ ends we still expect another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1922bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.897!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

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

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                           

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

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

 

120 Minute SP500 Chart:

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

 

Short Term Update:

                                                              

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

 

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

 

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

 

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

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

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

Short Term Update:

 

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

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

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

 

23.6% = 95.73;

38.2% = 94.98.

 

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

 

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

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

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

 

Short Term Update:

 

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

 

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

 

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

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 18 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822cdnx.png

 

Short Term Update:

 

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

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822gdx60.png

 

GDX Daily Chart:  

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

 

Short Term Update:

 

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

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

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

 

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

 

50% = 31.99.

61.8% = 32.72.

 

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

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822gold.png

 

Short Term Update: 

 

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

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

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

 

50% = 1816.30;

61.8% = 1831.20.

 

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

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle. The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822si.png  

 

Short Term Update:

 

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

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

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

 

50% = 23.45;

61.8% = 23.93.

 

After wave $b$ ends we still expect another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1822bond.png

 

Short Term Update:                                                                      

 

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

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

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

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

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

 

120 Minute SP500 Chart:

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

 

Short Term Update:

                                                              

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

 

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

 

We have adopted our alternate count as preferred!

 

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

 

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

 

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

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

 

USDX:

 

Daily USDX Chart:  

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

Short Term Update:

 

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

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

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

 

23.6% = 95.73;

38.2% = 94.98.

 

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

 

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

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

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

 

Short Term Update:

 

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

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

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

 

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

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. We are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

Next major resistance being the 34.56 level.

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 14 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 906.53, closing at 907.04!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422gdx60.png  

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422gdxd.png  

Short Term Update:

 

The GDX was lower in yesterday’s trading session reaching a low of 31.23, closing at 31.24!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart. Within this third pattern we completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

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

 

50% = 31.99.

61.8% = 32.72.

 

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

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422gold.png  

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1811.80. In the overnight session we moved higher reaching a high of 1829.00!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

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

 

50% = 1816.30;

61.8% = 1831.20.

 

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

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle. The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422si.png  

Short Term Update:

 

Silver was marginally higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 23.34!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle. Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

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

 

50% = 23.45;

61.8% = 23.93.

 

After wave $b$ ends we still expect another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.695%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.808% high. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422120.png  

Short Term Update:

                                                              

The SP500 was sharply lower in yesterday’s trading session reaching a low of 4650.29.  In the overnight session the SP500 Futures are down by about 18 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v). It appears that the Armageddon Support Line is being challenged again. It is now clear a solid weekly break and close below this will line indicate that major top has been made in the SP500.

 

Note the Alternate Count for wave (v) on the 120 min SP500 Chart. This count is suggesting that wave (v) has become an ending diagonal triangle formation.

 

In its current form we only need one more high above the 4744.13 all time high to complete the pattern. Of course, this ending diagonal triangle, like any triangle formation could also expand and extend.

 

If this is what wave (v) is doing then a major top in the SP500 may only be a week or so away!!!

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422usd.png  

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session we have reached a low of 94.61!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

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

 

23.6% = 95.73;

38.2% = 94.98.

 

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

 

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

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1422oil.png

 

Short Term Update:

 

Crude moved sideways in yesterday’s day session. In the overnight session we have moved higher reaching a high of 83.27!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

We are now rallying in wave $d$, which maybe complete at the 83.27 high. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.  

 

After wave $d$ ends we expect one more drop in wave $e$ to complete all of our multi-month wave (iv) bullish triangle.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends. We have now reached this target zone.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

The breakout is now confirmed, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 13 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 923.52 and closing on its high of 923.52!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 31.71 and we closed on our high of 31.71!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we completed all of wave ^a^ at the 28.90 low it now looks like wave ^b^ is becoming more complex as shown on the 60 Min GDX Chart.

 

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

 

We are now working on our second 3 wave pattern.

 

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

 

50% = 31.99.

61.8% = 32.72.

 

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

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1828.20!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart.

 

Wave .d. ended at 1879.50.

 

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

 

50% = 1816.30;

61.8% = 1831.20.

 

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

 

After wave ^b^ ends we still expect another drop in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322si.png

 

Short Term Update:

 

Silver was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 23.31!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41.

 

Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

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

 

50% = 23.45;

61.8% = 23.93.

 

After wave $b$ ends we still expect another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower yesterday’s day session reaching a low of 1.711%. In the overnight session we have moved higher reaching a high of 1.759%.

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

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

 

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

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322sp120.png

 

Short Term Update:

                                                              

The SP500 was higher in yesterday’s trading session reaching a high of 4748.83.  In the overnight session the SP500 Futures are up about 2 points.

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v). It appears that the Armageddon Support Line has held once again! It is now clear a solid weekly break and close below this will line indicate that major top has been made in the SP500.

 

We are watching this very carefully looking for a shorting opportunity.

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322usd.png

 

Short Term Update:

 

The USDX was sharply lower in yesterday’s day session and that trend lower has continued in the overnight session we have reached a low of 94.69!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

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

 

23.6% = 95.73;

38.2% = 94.98.

 

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

 

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

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1322oil.png                                                                                                                        

Short Term Update:

 

Crude was sharply higher in yesterday’s day session reaching ahigh of 83.10.

 

In the overnight session we have moved lower reaching a low of 82.05.

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low.

 

We are now rallying in wave $d$, which maybe complete at the 83.10 high.

 

Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid.  

 

After wave $d$ ends we expect another drop in wave $e$ to complete all of our multi-month wave (iv) bullish triangle.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends. We have now reached this target zone.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

The breakout is now confirmed, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

JAN 12 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 910.67 and closing on its high of 910.67!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222gdx60.png  

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222gdxd.png  

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 31.16, closing at 31.14!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we completed all of wave ^a^ at the 28.90 low and all of wave ^b^ at the 32.08 high.

 

We are falling in wave ^c^ which has minimum target of 28.83.

 

Within wave ^c^, we have updated our count to suggest that all of wave $i$ ended at 29.61 low and we are now rallying in wave $ii$, which has the following retracement levels:

 

50% = 30.85;

61.8% = 31.16.

 

We have now reached our 61.8% retracement level, so we need to be on guard for the completion of wave $ii$ and the start of another drop in wave $iii$. We will provide our first projections for the end of wave $iii$, when we  believe that all of wave $ii$ is complete.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222gold.png  

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1823.00!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and all of wave ^b^ at the 1833.00 high. We are now falling in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00. The other option is that wave ^b^ has become more complex and is still underway which means that gold could be heading back to the 1833.00 level before all of wave ^b^ ends.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222si.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 22.89!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low and all of wave $b$ at the 23.44 high. We are now falling in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

The other option is that wave $b$ is still underway and becoming more complex, which means that silver is heading back to the 23.44 high before all of wave $b$ ends.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was lower yesterday’s day session and that trend lower has continued in the overnight session as we have reached a low of 1.729%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*. We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.808% high. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjn1222spd.png

 

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222sp120.png

 

Short Term Update:

                                                              

The SP500 was sharply higher in yesterday’s trading session reaching a high of 4714.13.  In the overnight session the SP500 Futures are up about 7 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v). It appears that the Armageddon Support Line has held once again. It is now clear a solid weekly break and close below this will line indicate that major top has been made in the SP500.

 

We are watching this very carefully looking for a shorting opportunity!

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222usd.png

 

Short Term Update:

 

The USDX was lower in yesterday’s day session and that trend lower has continued in the overnight session we have reached a low of 95.54!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

A break now below 95.54 would eliminate this triangle option.

 

Even if this bullish triangle formation is eliminated, on the Intraday Chart, it still looks like the drop from the 96.94 high is corrective, which suggests that after this corrective pattern ends the USDX should revisit the 96.94 high one more time before all of wave (ii) ends.  

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1222oil.png

 

Short Term Update:

 

Crude was sharply higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached high of 81.98!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$.

 

Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

The breakout is now confirmed, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 11 morning post!

 

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 883.62, closing at 898.45!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 30.54, closing at 30.51!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart. Within this third pattern we completed all of wave ^a^ at the 28.90 low and all of wave ^b^ at the 32.08 high.

 

We are now be falling in wave ^c^ which has minimum target of 28.83. Within wave ^c^ it looks like wave $i$ ended at 31.20, all of wave $ii$ at 32.03 and now all of wave $iii$ at the 2961 low. WE are now rallying in wave $iv$, which has the following retracement levels:

 

23.6% =30.18;

38.2% = 30.54.

 

We have now reached our 38.2% retracement level, so we need to be on guard for the completion of wave $iv$ and the start of another drop in wave $v$ and the completion of all of wave *ii*.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

More updates on Gold Stocks and Indices coming soon.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122gold.png

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1810.00!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and all of wave ^b^ at the 1833.00 high. We are now falling in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle. The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122si.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 22.71!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle. Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low and all of wave $b$ at the 23.44 high. We are now falling in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122bond.png

  

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in yesterday’s day session reaching a high of 1.808%. In the overnight session we have moved lower reaching a low of 1.739%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

We have now updated our count within wave *b* of -ii- to suggest that it is still underway. Wave *b* is still a double 3 wave rally and within the second 3 wave pattern we are now rallying in our second wave *c*. We have now reached our minimum target for the end of this second wave *c* and are now waiting for confirmation that it is complete at the 1.808% high. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122sp120.png

 

Short Term Update:

                                                              

The SP500 was initially sharply lower in yesterday’s trading session reaching a low of 4582.24, although by the close we had recovered most of those losses to close only marginally lower at 4670.29.  

 

In the overnight session the SP500 Futures are up about 16 points.

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v), however, we must say this:

 

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

 

We are watching this very carefully looking for a shorting opportunity!

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122usd.png

 

Short Term Update:

 

The USDX was higher in yesterday’s day session reaching a high of 96.23. After that high was made we moved lower and that trend lower has continued in the overnight session we have reached a low of 95.77!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends. A break now below 95.54 would eliminate this triangle option. We appear to have held this level again in Friday’s drop off.

 

Based on the short term Intraday Chart pattern it looks like the USDX may have completed this bullish triangle formation at the 95.71 low. If that is the case then we should expect a sharp thrust higher before all of wave (ii) ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1122oil.png

 

Short Term Update:

 

Crude was lower in yesterday’s day session reaching a low of 77.83.

 

In the overnight session we have moved higher reaching a high of 79.66!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

We appear to now be breaking out to the upside, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 10 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022cdnx.png

 

Short Term Update:

 

CDNX was initially lower in Friday’s trading session reaching a low of 903.82, although we closed marginally higher at 911.46!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022gdxd.png

 

Short Term Update:

 

The GDX was initially lower in Friday’s trading session reaching a low of 29.61, although we closed higher at 30.01!

 

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we completed all of wave ^a^ at the 28.90 low and all of wave ^b^ at the 32.08 high. We are falling in wave ^c^ which has minimum target of 28.83.

 

Within wave ^c^ it looks like wave $i$ ended at 31.20 and all of wave $ii$ at 32.03. We are now falling in wave $iii$ of ^c^ that has an initial projected endpoint of:

 

$iii$ = 2.618$i$ = 29.73.

 

We have now reached our first wave $iii$ projected endpoint so we need to be on guard for a small wave $iv$ rally, as shown on the 60 Min GDX Chart. Wave $iii$ could be compete at the 29.61 low.

 

Wave $iii$ could also extend lower before it ends to our second projected endpoint which is:

 

$iii$ = 4.25$i$ = 28.29.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

Updates on Gold and Gold Indices are arrived.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022gold.png

 

Short Term Update: 

 

Gold was initially lower in Friday’s day session reaching a low of 1781.30, but after that low was made we moved higher and that trend higher has continued in the overnight session as we have reached ahigh of 1802.00!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and all of wave ^b^ at the 1833.00 high. We are now falling in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022si.png  

Short Term Update:

 

Silver was initially lower in Friday’s day session reaching a low of 21.94. 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 22.53!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low and all of wave $b$ at the 23.44 high. We are now falling in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher in Friday’s day session and that trend higher has continued in the overnight session as we are currently trading at the 1.806% level!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

We have now reached our minimum target for the end of this second wave *c* of 1.693%, as we have also reached resistance at the 1.765% level. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022sp120.png

 

Short Term Update:

                                                              

The SP500 was lower in Friday’s trading session reaching a low of 4662.74. In the overnight session the SP500 Futures are down by about 24 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v), although a decisive break our Armageddon Support Line would suggest something else is going on.

                                                                                                                                                                                                               

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

After wave V ends, we expect a complete meltdown in the stock market, and recovery will take much longer than people think.  

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022usd.png  

Short Term Update:

 

The USDX was lower in Friday’s day session reaching a low of 95.71. In the overnight session we have moved higher, reaching a high of 96.00!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

A break now below 95.54 would eliminate this triangle option. We appear to have held this level again in Friday’s drop off.

 

Based on the short term Intraday Chart pattern it looks like the USDX may have completed this bullish triangle formation at the 95.71 low. If that is the case then we should expect a sharp thrust higher before all of wave (ii) ends.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat! 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan1022oil.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 78.28!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$.

 

Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

We appear to now be breaking out to the upside, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:                                                                                                                     

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 7 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan7cdnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 908.16, closing at 911.21!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan722gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan722gdxd.png

 

Short Term Update:

 

The GDX was sharply lower yesterday’s trading session reaching a low of 29.74, closing at 29.76!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern.

 

We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart.

 

Within this third pattern we completed all of wave ^a^ at the 28.90 low and all of wave ^b^ at the 32.08 high.

 

We are falling in wave ^c^ which has minimum target of 28.83.

 

Within wave ^c^ it looks like wave $i$ ended at 31.20 and all of wave $ii$ at 32.03. We are now falling in wave $iii$ of ^c^ that has an initial projected endpoint of:

 

$iii$ = 2.618$i$ = 29.73.

 

We have now reached our first wave $iii$ projected endpoint so we need to be on guard for a small wave $iv$ rally, as shown on the 60 Min GDX Chart. Wave $iii$ could also extend lower before it ends to our second projected endpoint which is:

 

$iii$ = 4.25$i$ = 28.29.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

Updates on Gold and Gold Indices are arrived.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan722gold.png

 

Short Term Update: 

 

Gold was lower in yesterday’s day session reaching a low of 1785.40. In the overnight session we have moved sideways currently trading at the 1789.00 level!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and all of wave ^b^ at the 1833.00 high. We are now falling in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v.

 

This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan722si.png

 

Short Term Update:

 

Silver was lower in yesterday’s day session reaching a low of 22.00. In the overnight session we have moved sideways currently trading at the 22.11 level!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35.

 

 We are falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low and all of wave $b$ at the 23.44 high. We are now falling in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan722bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was moved sideways in yesterday’s day session and that trend higher has continued in the overnight session as we are currently trading at the 1.732% level!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

We have now reached our minimum target for the end of this second wave *c* of 1.693%, although a run to the 1.765% level looks likely. It looks like wave -ii- is either going to become a flat or irregular type corrective pattern.

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan722spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan722sp120.png

 

Short Term Update:

                                                              

The SP500 was lower in yesterday’s trading session reaching a low of 4671.26. In the overnight session the SP500 Futures are up about 5 points!

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                          After wave V ends?  Well, for one market bear’s take on it: click here

 

We don’t follow time in Ewave, but whether it happens now or later, “The Super Wave Five Dive” is going to be a life-changing experience for those investors who are not prepared.

 

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

 

 

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan722usd.png  

Short Term Update:

 

The USDX moved sideways in yesterday’s day session and that trend has continued in the overnight session as we are currently trading at the 96.21 level!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends. A break now below 95.54 would eliminate this triangle option. We appear to have held this level so far.

 

Based on the short term Intraday Chart pattern it looks like the USDX is going to move higher in the third leg of this bullish triangle formation. Triangles have five legs. We cannot rally above the 96.88 high for this current triangle pattern to remain valid.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat. 

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan722oil.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 80.47!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$. Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

We appear to now be breaking out to the upside, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 6 morning post!

Captain Ewave Morning Post!

 

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

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

 

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

From there, add more detail to your study.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan622cdnnx.png

 

Short Term Update:

 

CDNX was lower in yesterday’s trading session reaching a low of 923.23, closing at 924.43!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

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

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan622gdx60.png

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan622gdxd.png  

Short Term Update:

 

The GDX was initially higher in yesterday’s trading session reaching a high of 32.03, but after that high was made we moved lower reaching a low of 30.79 and closing at 30.85!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern.

 

We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart. Within this third pattern we completed all of wave ^a^ at the 28.90 low and likely all of wave ^b^ at the 32.08 high.

 

We should now be falling in wave ^c^ which has minimum target of 28.83. Within wave ^c^ it looks like wave $i$ ended at 31.20 and all of wave $ii$ at 32.03. We are now falling in wave $iii$ of ^c^ that has an initial projected endpoint of:

 

$iii$ = 2.618$i$ = 29.73.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

Updates on Gold and Gold Indices are arrived.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan622gold.png

 

Short Term Update: 

 

Gold was initially higher in yesterday’s day session reaching a high of 1830.70. 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 1786.30!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and all of wave ^b^ at the 1833.00 high. We are now falling in wave ^c^ of .e., which will complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan622si.png

 

Short Term Update:

 

Silver was initially higher in yesterday’s day session reaching a high of 23.30. After that high was made we moved lower and that trend lower has continued in the overnight session as we have reached a low of 22.02!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41. Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low and all of wave $b$ at the 23.44 high.

 

We are now falling in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan622bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was higher again in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1.751%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

We have now reached our minimum target for the end of this second wave *c* of 1.693%, although a run to the 1.765% level looks likely.

 

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

 

After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

 

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

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.900%

                                                                                                                    

Active Positions: Short risking to 1.900%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan622spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan622sp120.png  

Short Term Update:

                                                              

The SP500 was sharply lower in yesterday’s trading session reaching a low of 4699.44!

 

In the overnight session the SP500 Futures are up about 2 points.

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We still expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat!

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan622usd.png  

Short Term Update:

 

The USDX was lower in yesterday’s day session reaching a low of 95.89. 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 96.40!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends. A break now below 95.54 would eliminate this triangle option.

 

We appear to have held this level so far.

 

Based on the short term Intraday Chart pattern it looks like the USDX is going to move higher in the third leg of this bullish triangle formation. Triangles have five legs. We cannot rally above the 96.88 high for this current triangle pattern to remain valid.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

                                                                                                                                                                                                                    

Trading Recommendation: Flat.

 

Active Positions: Flat!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan622oil.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 79.52!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$.

 

Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$.

 

Based on the location of the upper trendline of our bullish wave (iv) triangle, crude could be heading to around the 83.00/83.50 level before all of wave $d$ ends.

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97 and all of wave -ii- at the 22.22 low. If that is the case we are now moving sharply higher in wave -iii-, which has the following initial projected endpoint:

 

-iii- = 1.618-i- = 38.50.

 

We appear to now be breaking out to the upside, with next major resistance being the 34.56 level

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

 

JAN 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.

 

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

 

CDNX: 

 

CDNX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan522cdnx.png

 

Short Term Update:

 

CDNX was higher in yesterday’s trading session reaching a high of 948.38, closing at 940.57!

 

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

 

50% = 889.53;

61.8% = 836.63.

 

Within wave -ii- we now appear to working on our second 3 wave corrective pattern. Our first 3 wave pattern ended at 847.92, which was then followed by a wave (x) rally that ended at the 1025.77 high. We are now falling I our second 3 wave pattern and within that pattern all of wave (b) likely ended at the 947.38 high.

 

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

 

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

 

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

 

Our initial projected endpoint for the larger wave -iii- is:

 

.iii. = 1.618.i. = 1357.04.

 

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

 

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

 

GDX & Gold Stocks:

 

GDX 60 Min Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan522gdx60.png  

 

GDX Daily Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan522gdxd.png

 

Short Term Update:

 

The GDX was higher in yesterday’s trading session reaching a high of 31.87, closing at 31.38!

 

Wave *ii* is still underway and is becoming a triple 3 wave corrective pattern. We are now working on the third corrective pattern as shown on the 60 Min and Daily GDX Chart. Within this third pattern we completed all of wave ^a^ at the 28.90 low and likely all of wave ^b^ at the 32.08 high.

 

We should now be falling in wave ^c^ which has minimum target of 28.83.

 

Our retracement levels for our third wave ^b^ are:

 

50% = 31.99;

61.8% = 32.72.

 

We have now reached our 50% retracement level so we need to be on guard for the completion of wave ^b^, likely at the 32.08 high.

 

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

 

50% = 30.98;

61.8% = 27.49.

 

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

 

-3- = 2.618 (-1-) = 66.37.

 

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

 

Updates on Gold and Gold Indices are arrived.

 

Kinross(Updated September 02nd, 2021):

 

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

 

-iii- = 4.25-i- = 19.25.

 

Within wave -iii-, we completed wave .i. at 10.24 and appear to still be working on wave .ii, which has the following retracement levels:

 

50% = 6.48;

61.8% = 5.59.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave .ii. and the start of a sharp rally in wave .iii..

 

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

 

(iii) = 4.25(i) = 21.55.

 

Barrick (Updated December 31st,2021):  We are now rallying in an extending wave iii rally which has the following projection for its completion:

 

iii = 2.618i = 53.94

 

Wave iii still has along way to go and within this wave we are now rallying in wave (iii). Wave (iii) is now subdividing also, and it looks like we completed wave -i- at 27.74. We are now falling in an irregular type wave -ii- correction which has the following retracement levels:

 

50% = 20.20;

61.8% = 18.41.

 

We have now reached our 61.8% retracement level so we need to be on guard for the completion of wave -ii- and the start of a large rally in wave -iii-. Within wave -ii-, wave $c$ appears to have become an ending diagonal triangle, which could be complete at the 17.27 low. After wave -ii- ends we will provide our first projections for the end of wave -iii-.

 

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

 

(iii) = 2.618(i) = 45.24.

 

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

 

iii = 2.618i = 107.85.

 

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

 

HUI (Updated December 31st , 2021): We continue to rally in wave 3 which has the following projected endpoint:

 

3 = 2.618(1) = 620.32.

 

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

 

iii = 4.25i=644.35.

 

Within wave iii, we are still working on aa complex wave (ii), which has the following retracement levels:

 

50% = 258.18;

61.8% = 230.88.

 

After wave (ii) ends we expect a very sharp rally in wave (iii). We will provide our initial projections for the end of wave (iii), when we think all of wave (ii) is complete.

 

XAU (Updated December 31st, 2021): We continue to rally in wave (iii), which has the following projected endpoint:

 

(iii) = 2.618(i) = 226.55.

 

Within wave (iii), we now think that all wave -iii- ended at the 165.36 high and if that is the case then we are now falling in wave -iv- which has the following retracement levels:

 

23.6% = 141.24;

38.2% = 125.15.

 

After wave -iv- ends we expect another sharp rally higher in wave -v-, which is project to reach the 226.55 level to complete all of wave (iii).                         

 

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

 

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

 

Gold:  

 

Daily Gold Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan522gold.png

 

Short Term Update: 

 

Gold was higher in yesterday’s day session and that trend higher has continued in the overnight session as we have reached a high of 1821.30!

 

We continue our long correction in our wave -iv- bullish triangle as shown on our Daily Gold Chart. Wave .d. ended at 1879.50.

 

We continue to work on wave .e., and within wave .e. it looks like all of wave ^a^ of .e. ended at the 1753.00 low, and likely all of wave ^b^ at the 1833.00 high. After wave ^b^ ends we should expect one more drop in wave ^c^ of .e. to complete all of wave .e. and our bullish wave -iv- triangle.

 

The minimum target for wave ^c^ is the wave ^a^ low of 1753.00.

 

Our retracement levels for all of wave ^b^ are:

 

50% = 1816.30;

61.8% = 1831.20.

 

After wave ^c^, .e. and -iv- end we can expect a huge thrust higher in wave -v-, which will take gold to all time new highs.

 

Another plausible possibility is that all of wave .d. ended at 1836.90 and all of wave .e. at 1721.10. This would mean that all of wave -iv- is complete and that the next rally in gold will be a substantial thrust higher in wave -v-. This would create a very non-symmetric triangle, although triangles do not have to look pretty. This will be our alternate count for now.

                            

Trading Recommendation: Long gold. Use puts as stops.  

 

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

                                                                                                                      

Silver:

 

Daily Silver Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan522si.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 ahigh of 23.17!

 

Wave ii has become more complex and is still underway. Wave i still ended at the 29.91 high, but within wave ii, it looks like wave (a) ended at 21.81 and wave (b) at 30.35. We are now falling in wave (c) which has become an ending diagonal triangle.

 

Within that diagonal triangle we are now falling in wave -v- of (c) which a minimum target of the wave -iii- low of 21.41.

 

Our retracement levels for all of wave ii are:

 

50% = 20.78;

61.8% = 18.62.

 

We believe that within wave -v-, all of wave $a$ ended at the 21.41 low. We are now rallying in wave $b$ rally which is likely now complete at the 23.44 high. After wave $b$ ends we expect another drop in wave $c$ to complete all of wave -v- , (c) and ii. The minimum target for wave $c$ will be the wave $a$ low of 21.41.

 

Our retracement levels for all of wave $b$ are:

 

50% = 23.45;

61.8% = 23.93.

 

We have now reached our 50% retracement level so we need to be on guard for the completion of wave $b$ and the start of another drop in wave $c$ of -v- of ii.

 

Wave ii is still expected to at least reach our 50% retracement level before all wave ii ends.

 

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

 

Active Positions: Long using a put as a stop!                                                                                                                                             

 

US 10 Year Bond Yield:

 

Daily US 10 Year Bond Yield Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan522bond.png

 

Short Term Update:                                                                      

 

The US 10 Year Bond Yield was sharply higher again in yesterday’s day session reaching a high of 1.686%. In the overnight session we have moved lower reaching a low of 1.640%!

 

It now looks like wave -ii- is becoming a 3 wave flat correction pattern with all of wave *a* of -ii- ending at the 1.128% low.

 

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

 

Our minimum target for the end of this second wave *c* is 1.693%. After wave *b* ends we expect another drop in wave *c*, which has a minimum target of the wave *a* low of 1.128%.

 

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

 

50% = 1.130%

61.8% = 0.99%.

 

Longer term our initial target for the end of wave (iii) is still:

 

(iii) = 1.618(i) = 1.910%. 

 

Although we suspect that it will likely extend much higher based on the current initial wave structure for wave (iii).   

                                                                                                                                                                                     

Trading Recommendation: Short risking to 1.770%

                                                                                                                    

Active Positions: Short risking to 1.770%!

 

S&P500: 

 

Daily SP500 Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan522spd.png

 

120 Minute SP500 Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan522sp120.png

 

Short Term Update:

                                                              

The SP500 was higher in yesterday’s trading session reaching another all-time new high at 4818.82. In the overnight session the SP500 Futures are down by about 5 points.

 

It now looks like wave (v) is going to extend and within wave (v), all of wave -i- ended at 4743.83 and all of wave -ii- at 4495.12. We should now be rallying again in wave -iii- which has an initial projected endpoint of:

 

-iii- = 1.618-i- = 5247.31

 

We expect higher prices now in wave -iii- of (v).

                                                                                                                                                                                                                      

Trading Recommendation: Flat.

                                                                                   

Active Positions: Flat.

 

USDX:

 

Daily USDX Chart:  

https://captainewave.com/wp-content/uploads/2022/01/ewjan522usd.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 96.02!

 

All of wave (i) of iii ended at 89.17 and if that is the case we are now rallying in wave (ii), which has the following retracement levels: retracement levels:

 

50% = 96.57;

61.8% = 98.31.

 

We have now entered our retracement zone, so we need to be guard for the possible completion of wave (ii) at the 96.94 high.

 

We are watching a developing bullish triangle formation which started at the 96.94 high. If that observation is correct then once this bullish triangle ends we can expect one more rally in wave (ii) above the 96.94 high, before it ends.

 

A break now below 95.54 would eliminate this triangle option. We appear to have held this level so far.

 

Based on the short term Intraday Chart pattern it looks like the USDX is going to move higher in the third leg of this bullish triangle formation. Tringles have five legs.

 

We cannot rally above the 96.88 high for this current triangle pattern to remain valid.

 

After wave (ii) ends we expect the USDX to start to move lower again in wave (iii).

 

We have decided to exit our short positions.

                                                                                                                                                                                                                         

Trading Recommendation: Exit and go flat.

 

Active Positions: Exiting to go flat!

                                                                                                                     

Crude Oil and Suncor:

 

Daily Crude Chart:

https://captainewave.com/wp-content/uploads/2022/01/ewjan522oil.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 77.67!

 

Wave i is still underway as shown on our Daily Crude Chart. We believe that we working on an expanding and extending wave (iv) of i bullish triangle. Within our triangle we may have completed wave $c$ at the 62.46 low. We are now rallying in wave $d$.

 

Wave $d$ cannot trade above the wave $b$ high of 85.41 for this triangle formation to remain valid. Wave $c$ cannot trade below the wave $a$ low of 57.25 also.

 

Wave $c$ is complete at the 62.46 low and we are now rallying in wave $d$..

 

Suncor: Wave iii is subdividing and within wave iii, all of wave (i) ended at the 25.73 high, and all of wave (ii) at the 16.91 low. We should now be rallying in wave (iii), which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 41.28.

 

It also looks like wave (iii) is subdividing with wave -i- ending at 26.97. We are now falling in wave -ii- which has the following retracement levels:

 

50% = 21.94;

61.8% = 20.75.

 

We still expect lower prices ahead as wave -ii- develops, although we cannot rule the possibility that all of wave -ii- is now complete at the 22.22 low. If that is the case then we should expect a very sharp rally in wave -iii- to begin very soon.

 

It appears that Suncor is trying to breakout as shown on our Weekly Suncor Chart.

 

We are once again challenging our major red downtrend line.

 

Our current projection for the completion of all of wave iii to:

 

iii = 2.618i = 42.40

 

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

 

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

  

Thanks!

Captain & Crew

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