JAN 15 MORNING POST!

CAPTAIN EWAVE HOLIDAY UPDATE!!

 

Gold: 

 

Daily Gold Chart:

 

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518gold.png

 

Short Term Update:

 

Gold moved sharply higher in Friday’s day session and that trend continued in the overnight session as we have reached a high of 1344.90!  

The bottom line:

Wave ^i^ is continues to extend, with a possible run now to the 1362.40 or even the 1378.00 highs, as shown on the Daily Gold Chart.   

 

Upon completion of wave ^i^, we should expect a wave ^ii^ correction that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave ^i^ rally. We will provide those retracement levels when we are sure that wave ^i^ is complete.

 

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

 

*iii*=1.618*i*=1495.20.

 

Trading Recommendation: Short term traders that have taken profits can now wait until wave ^ii^ develops and ends to re-enter long. We plan to stay long and add at the end of wave ^ii^.   

 

Active Positions: We are long, with puts as stops, and will add at the end of wave ^ii^!

 

Silver:

 

Daily Silver Chart:

 

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518si.png

 

Short Term Update:

 

Silver moved higher in Friday’s day session and again in the overnight session as we have reached a high of 17.45. Wave ^i^ is still underway and extending, with a possible quick move to the 18.29 level, as shown on the Daily Silver Chart, before it ends.   

 

We are now rallying in a subdividing wave .iii.. Within wave .iii. we are now rallying in wave ^i^. Upon completion of wave ^i^ we expect to see a wave ^ii^ correction, that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the entire wave ^i^ rally. We will provide those retracement levels when we are sure that wave ^i^ is complete.

 

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

 

.iii. = 1.618.i. =  22.03.

 

Trading Recommendation: Short term traders who took profits can wait until wave ^ii^ develops and ends before entering long again. We plan to hold and add at the end of wave ^ii^.

 

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

 

Crude:

 

Daily Crude Chart:

 

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518oil.png

 

Short Term Update:

 

We have reached our upper red trendline as shown on the Daily Crude Chart, so if our current analysis is correct, we suspect all of wave $v$ and ^c^ and *b* are now complete at the 64.77 high.  

 

We need to now be on guard for a major top in crude, and are now waiting for that confirmation.

 

The rally from the wave *a* of .ii. low of 39.19 is not impulsive looking, so we are still expecting that we are correcting in a complex wave .ii. pattern. If this observation is correct then crude will be heading back to the 39.19 low again, once this current corrective pattern ends.

 

Suncor: We moved higher within a complex wave .b. rally and have reached a high of 38.39. We continue to watch for confirmation that all of wave .b. is complete at the current high, and that wave .c. lower is now underway. If wave *b* in crude is complete at the 64.77 high then wave .b. is Suncor is complete at the 38.39 high and we should now be starting wave .c. lower.

 

Trading Recommendation: Aggressive traders should be short crude now with a 65.00 call as stop.  

 

Active Positions: We are now short, and have added to our short positions with calls as a stops. We will go long Suncor at 26.00!

 

S&P: 

 

Daily SP500 Chart:

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518sp.png  

Short Term Update:

 

The S&P made another all-time new high in Friday’s trading session. The S&P is closed today.

 

This market is in danger of a very big collapse, as many indicators are very stretched…. and getting more stretched as this market moves higher. If our current analysis is correct, we should expect to see a very large drop in the S&P… 100 plus points in the near future.      

 

This is a now scary market for the bulls from an EWaves analysis point of view.

 

Trading Recommendation: Stay short and use calls as stops.

 

Active Positions: Very Short with calls at various levels as stops!

 

USDX:

 

Daily USDX Chart:

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518usd.png  

Short Term Update:

 

The continued to drop in wave $iii$ of ^v^ is Friday’s day session, as shown on the Daily USDX Chart.

 

Our first projections for the end of wave $iii$ are:

 

$iii$ = 1.618$i$ = 89.94;

$iii$ = 2.618$i$ = 87.30.

 

We expect further losses, in the days ahead.

 

Active Positions: Flat

 

NG: 

 

Daily NG Chart:

 

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518ng.png

 

Short Term Update:

 

NG continued to move higher in Friday’s day session, as we should be working on wave *iii* of -c- of (b), as shown on the Daily Ng Chart.  Our first projection for the end of wave *iii* is:

 

*iii* = 1.618*i* = 3.61. Expect further gains.

 

Trading Recommendation: Long, with a stop at 2.74.

 

Active Positions: Long now, with a stop at 2.74, with a final target of 3.90.

 

GDX:  

 

GDX Daily Chart:

 

https://captainewave.com/wp-content/uploads/2018/01/ewjan1518gdx.png

 

Short Term Update:

 

The GDX was sharply higher in Friday’s trading session. With wave ^i^ in gold now extending, we should assume that wave -i- in the GDX will also extend, as shown on the Daily GDX Chart. Wave -i- does have the potential to rally to the 25.50/26.00 level. The GDX will be closed today. 

 

When wave -i- does end we should expect a wave -ii- correction that retraces between 50 to 61.8{6662cb326f536db879050e93fbe8de36d93608a2a48b01f600643f4328fc39a1} of the end entire wave -i- rally. We will provide those retracement levels when we are sure that wave -i- is complete. 

 

Our first projection for the end of wave iii is:

 

iii = 1.618i = 32.81.

 

We expect the wave iii will consist of a clear 5 wave impulsive pattern, of which we are now working on wave (i) of that pattern.   

 

Based on that we should expect the following from our current gold stocks/indices:

 

Kinross: Uncertain here. Nested bullish waves might be in play here. 

Barrick: Major low at 13.28, and we should now be heading sharply higher. 

Newmont: Higher with nested bullish waves in play here. 

SSR: Wave 2 still looks to be underway. Wave 1 ended at 19.53, back in July, 2016.  

HUI: Higher now. See Monthly Chart  

XAU: Higher now. See Monthly Chart.

 

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