SP500 & Gold: Major Waves In Play
April 22, 2020
If our wave iv irregular type corrective pattern is the correct analysis, then it is complete at the 2191.86 low and the SP500 is now poised to rally to all time new highs again in wave v, as shown on the weekly SP500 chart.
If we are now rallying in wave v, then our current count is suggesting that all of wave -i- ended at the 2637.01 high and all of wave -ii- at the 2447.49 low. We are now rallying in wave -iii- which has the following initial projected endpoint:
-iii- = 1.618-i- = 3167.74.
Once wave .i. ends we expect a wave .ii. correction that retraces between 50 to 61.8% of the entire wave .i. rally, and that may be underway now.
This current 3wave rally needs to become a 5wave rally to support our current wave v count.
The other option is that all of wave V is complete at the 3393.53 high and that we are now dropping back in a multi-year correction to the following retracement levels:
50% = 1696.77;
61.8% = 1296.33.
Incredibly, these levels above represent a correction of the entire history of the SP500, from its inception when it was valued at 0, to the wave V high of 3393.53!
We updated our count within our wave ^iii^ rally to now suggest that all of wave $i$ ended at the 1788.80 high and that we are now falling in wave $ii$ of ^iii^, which had the following retracement levels:
50% = 1682.40;
61.8% = 1657.30.
Once wave $ii$ ends (and it may be over now!) we expect another sharp rally higher in wave $iii$ of ^iii^.
Wave ^iii^ has the following initial projection for its completion:
^iii^ = 1.618^i^ = 1967.10.
Our current projection for the end of wave .iii. is:
.iii. = 1.618.i. = 2306.30!
We are now working on the assumption that all of wave 2 is complete at the 16.15 low and that we started to rally in wave 3 which has the following initial endpoint:
3 = 1.618 (1) = 47.20
In the short-term wave 3 is subdividing and our view is that wave -ii- of ^iii^ of 3 ended at the 23.00 low.
If that is the case, then we are now rallying in the initial stages of wave -iii- that has the following initial projection for its completion:
-iii- = 1.618-i- = 35.81
We should move higher this coming week.
Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops!
(iii) = 2.618(i) = 14.19.
Within wave (iii) we are now rallying in wave -iii-, which has the following projections for its completion:
-iii- = 1.618-i- = 9.01;
Iii= 1.618i= 37.10;
Iii = 2.618i = 53.94
Within wave iii we are rallying sharply in wave (iii), which has projected endpoints of:
(iii) = 1.618(i) = 32.79;
(iii) = 2.618(i) = 45.24.
Risk: captainewave.com is an impersonal advisory service and, therefore, no consideration can or is made toward your financial circumstances. All material presented within captainewave.com is not to be regarded as investment advice, but for general informational purposes only. Trading stocks does involve risk, so caution must always be utilized. We cannot guarantee profits or freedom from loss. You assume the entire cost and risk of any trading you choose to undertake. You also agree to bear complete responsibility for your investment research and decisions and acknowledge that captainewave.com has not and will not make any specific recommendations or give advice to you or any of its clients upon which they should rely. captainewave.com suggests that the client/member test all information and trading methodologies provided at our site through paper trading or some other form of testing. captainewave.com, its owners, or its representatives are not registered as securities broker-dealers or investment advisors either with the U.S. securities and exchange commission or with any state securities regulatory authority. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest with or without seeking advice from such an advisor or entity, then any consequences resulting from your investments are your sole responsibility.
All information posted is believed to come from reliable sources. captainewave.com does not warrant the accuracy, correctness, or completeness of information available from its service and, therefore, will not be liable for any loss incurred. Due to the electronic nature of the internet, the captainewave.com website, its e-mail & distribution services and any other such "alerts" could fail at any given time. captainewave.com will not be responsible for unavailability of use of its website, nor undelivered e-mails, or "alerts" due to internet bandwidth problems, equipment failure, or acts of god. captainewave.com does not warrant that the transmission of e-mails, or any "alert" will be uninterrupted or error-free. captainewave.com will not be liable for the acts or omissions of any third party with regards to captainewave.com delay or non-delivery of the captainewave.com nightly emails or "alerts". Further, we do not receive any form of payment or other compensation for publishing information, news, research or any other material concerning any securities on our site or publish any information on our site that is intended to affect or influence the value of securities.
There is no guarantee past performance will be indicative of future results. No assurance can be given that the recommendations of captainewave.com will be profitable or will not be subject to losses. All clients should understand that the results of a particular period will not necessarily be indicative of results in future periods. The results listed at this website are based on hypothetical trades. Plainly speaking, these trades were not actually executed. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated trades do not represent actual trading. Also, since the trades have not actually been executed, the results may have over or under compensated for the impact, if any, of certain market factors such as lack of liquidity. You may have done better or worse than the results portrayed. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. No independent party has audited the hypothetical performance contained at this website, nor has any independent party undertaken to confirm that they reflect the trading method under the assumptions or conditions specified hereafter. While the results presented at this website are based upon certain assumptions believed to reflect actual trading conditions, these assumptions may not include all variables that will affect, or have in the past affected, the execution of trades indicated by captainewave.com. The hypothetical results on this website are based on the assumption that the client buys and sells the positions at the open price of the stock. The simulation assumes purchase and sale prices believed to be attainable. In actual trading, prices received may or may not be the same as the assumed order prices.