Captain Ewave Late Night GDX & Gold Stocks Update!
GDX & Gold Stocks:
GDX 60 Min Chart:
https://captainewave.com/wp-content/uploads/2025/01/EWJAN225GDX60.png
GDX Daily Chart:
https://captainewave.com/wp-content/uploads/2025/01/EWJAN2GDXD.png
Short Term Update:
We have updated our current count for the GDX to now suggest that our bullish wave B triangle is still underway as shown on our Daily and 60 Min GDX Charts.
Within our wave B triangle, wave c still ended at the 21.52 low, but the current rally from that low looks to have become a complex triple three wave pattern, all within wave d, which looks to have ended at the 44.22 high. If that is the case we are now falling in wave e.
We are not sure what form wave e will take but for the time being are assuming it will be a three-wave pattern. We are now assuming that all of wave (a) ended at the 35.19 low and wave (b) at the 39.17 high. If that this is the case then we are now falling in wave (c), which has the following projected endpoints:
(c) = 0.618(a) = 33.59.
(c) = (a) = 30.14.
We have now reached our first projected endpoint for wave (c), so we need to be on guard for its completion, perhaps at the 33.42 low, including the end of wave e and our major wave bullish triangle end. After wave B ends, we expect to start a major thrust higher in wave C.
Other options are that wave (b) is going to become more complex, than just a simple 3 wave pattern, as we are currently assuming, perhaps even a bullish triangle on its own and in this case, where we are still working on wave (a).
Updates to Gold Stocks and the XAU and HUI Indices are coming over the holidays. IMG and KGC have been updated
Kinross (Updated December 30th, 2024):
Wave A ended at 31.88 in 1996, and since that high was made, we have been working on a bullish wave B triangle formation that looks like:
a = 1.12;
b= 27.40;
c = 1.31;
d = 10.32;
e = 3.00, to complete all of wave B.
We should now be moving higher in wave i of wave c. Within wave i, we likely completed wave -iii- of (iii) at 10.82 high and if that is the case then we are now moving lower in wave -iv-. After wave -iv- ends we expect another rally in wave -v- to complete all of wave (iii). Our projected endpoints for wave (iii) are:
(iii) = 1.618(i) = 11.45.
(iii) = 2.618(i) = 15.28.
Our current projected endpoint for wave C is:
C = 1.618A = 54.58.
Within wave C, we are still moving higher in wave (i) of i.
ABX (Updated December 30th, 2024):
Wave A was a 3-wave rally that ended at 54.43 in 2008 and we are currently working on a wave B bullish triangle, which is still underway. Our current wave B bullish triangle looks like:
a = 5.81;
b = 30.69;
c = 13.01;
d = 21.35;
e = 15.11, if complete to complete all of wave B. Wave e cannot drop below the wave c low of 13.01, for our current triangle formation to remain valid.
After our wave B bullish triangle ends we expect a massive thrust higher in wave C. We will provide our updated projections for the end of wave C, when we believe that all wave B is complete.
HUI (Updated December 30th 2024):
Wave A ended at 519.61 in 2008, and it looks like all our wave B bullish triangle is expnading and extending, with the following endpoints:
(a) = 99.19;
(b) = 373.85;
(c) = 172.86:
(d) = 354.40;
(e) = 275.23, if complete to complete all of the wave B bullish triangle. Wave (e) cannot drop below the wave (c) low of 172.86 for our current trinagle formation to remain valid.
After our wave B bullish triangle ends we expect a massive thrust higher in wave C. We will provide our updated projections for the end of wave C, when we believe that all wave B is complete.
XAU (Updated August 07th, 2024):
Wave B ended at the 38.37 low in 2016 and we are now rallying in a long-term wave C. Within wave C , we completed wave i at 101.76 and all of a complex wave ii at 60.59. We are now rallying in wave iii, which that following projected endpoint:
iii = 4.236i = 329.11.
Within wave iii, we believe that wave (i) ended at 167.09 and wave (ii) at 90.08. We are now rallying in wave (iii), which has an initial projected endpoint of:
(iii) = 1.618(i) = 262.40.
Within wave (iii), it looks like wave -i- ended at 135.15 and wave -ii- at 102.60, and we are now rallying in wave -iii-, which has an initial projected endpoint of:
-iii- = 1.618-i- = 181.70.
We expect higher prices in the months ahead as we continue to rally higher in wave -iii- of (iii).
SSR Mining (Updated November 25th, 2023):
Wave A ended at 48.16 in 2007, and since that high was made, we have been working on a bullish wave B triangle formation that has the following make-up, so far:
a = 3.66;
b = 25.32;
c = 11.05, if complete;
d rally after wave c ends and we cannot rally above the 25.32 high;
e drop after wave d ends and we cannot drop below the wave c low.
Wave d needs to consist of at least one 3 wave pattern.
Newmont Mining: (Updated August 04th, 2024):
Newmont Mining is following a rather complex Ewave pattern, as we are currently working on a double 3 wave pattern, likely all within a larger multi-decade wave (A). Within the wave (A), we completed our first 3 ABC pattern in 1996 at 79.83, which was followed by a wave X drop to 12.44. After wave X ended, we are now rallying in our second ABC pattern, with wave A ending at 61.19 and wave B at 15.02. We are now rallying in wave C and within wave C we completed wave i at 86.37 and wave ii at 29.42. We are now starting to rally in a multiple year wave iii, which has the following initial projected endpoint:
iii = 1.618i = 144.86.
Within wave iii, we are still working on wave (i).
Longer term our current projected endpoint for our second wave C is:
C = 2.618A = 142.65.
IMG: (Updated December 30th, 2024):
IMG completed wave A at the 23.79 high in November of 2011 and since that time we have been correcting in complex wave B, which ended at the 1.26 low in October, 2022. We should now be starting to rally higher in wave C. Our current projection for the end of wave C is:
C = 1.618A = 39.75.
Within wave C we are currently rallying in wave i and within wave i, we completed likely completed wave (iii) at the 8.80 high although we cannot rule the possibility that wave (iii) could extend higher to our next projected endpoint of 10.69.
If wave (iii) is complete at the 8.80, we should now be correcting in wave (iv) and after it ends, we expect another rally in wave (v) to complete all of wave i of C.
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!!
Thanks!
Captain & Crew