Gold:
The Captain’s daily gold chart.
Analysis: We continue to rally in wave .v. of -iii-. Within wave .v., we completed wave ^i^ of *i* at the 1997.20 high and all of wave ^ii^ at the 1931.80. We continue to rally in wave ^iii^, which has a projected endpoint of:
^iii^ = 6.25^i^ = 3249.40.
Within wave *iii* of ^iii^, we completed wave -i- at 2151.20 and wave -ii- at 1973.10. We are still rallying in a subdividing wave -iii- with wave $i$ ending at 2088.50, wave $ii$ at 1984.30, wave $iii$ at the 2431.50 high, and our wave $iv$ bullish triangle at the 2277.60 low.
It looks like all of wave $v$ of *iii* ended at the 3167.70 high, wave *iv* at the 2956.90 low and wave *v*, at the 3500.30 high, to complete all of wave -iii-.
If that is the case, then we are now moving lower in wave -iv-, which has the following retracement levels:
23.6% = 3130.10.
38.2% = 2916.90.
We have adopted our bullish triangle option for wave -iv-, which has an internal wave structure of:
*a* = 3120.90.
*b* = 3451.60.
*c* = 3247.50.
*d* rally is now underway, which must stay below 3451.60.
*e* drop after wave *d* ends, to complete wave -iv-.
We are now watching an alternate count that is suggesting that all of wave -iv- ended at the 3120.90 low and that we have started to rally higher in wave -v-. Within wave -v-, we have the following internal count:
*i* = 3366.40.
*ii* = 3247.90
*iii* is now underway and has an initial projected endpoint of:
*iii* = 1.618*i* = 3645.10!
Trading Recommendation: Go long gold. Use puts as stops.
Active Positions: Long gold, with puts as stops!
US Stk Mkt:
The Captain’s SP500 120 Minute chart.
Analysis: We are still working on wave -v-, and within wave -v-, we are still moving higher in wave .iii., which has a projected endpoint of:
.iii. = 2.618.i. = 6535.10.
We still expect higher prices as wave .iii. continues, but after that we expect a “biblical” collapse in the US stk mkt!
Silver:
The Captain’s daily silver chart.
Analysis: Wave ii ended at 18.01, and we are working on a powerful wave iii rally that is full of nested bullish waves, as shown on our Daily Silver Chart.
Within wave iii, we completed wave (i) at 24.39 and wave (ii) at 19.94 and are moving higher in wave (iii), which has a updated projected endpoint of:
(iii) = 4.236(i) = 48.63.
Within wave (iii), we completed wave -i- at 26.23, wave -ii- at 20.85, wave -iii- and all of wave -iv- at 28.29. We should still move higher in wave -v- to complete all of wave (iii).
Within wave -v-, wave !i! ended at 33.69 and wave !ii! at 31.78. We should now be moving higher in wave !iii!, which has initial projected endpoint of:
!iii! = 1.618!i! = 41.71.
We continue to move higher in wave !iii!, and within wave !iii!, we completed wave ^iv^ at the 35.20 low and we are now moving higher in wave ^v^.
Next major resistance is 39.57 and then 44.28!
Trading Recommendation: Go long with puts as stops.
Active Positions: Long with puts as stops!
Thank-you,
Captain Ewave & Crew
Read the full article here