Home   Links   Editorials

Elliott Wave Counts For Gold, SP500, & GDX

email: admin@captainewave.com
website: www.captainewave.com

Jun 25, 2018


Short Term Update:

Gold traded mostly sideways in Friday’s day session. In the overnight session that trend continued. Gold has traded within a range of 1266.00 to 1272.00, and is currently trading at the 1270.60 level.
We are still working on a type of flat corrective pattern, within wave *ii*.

This count for all of wave *ii* is shown on the daily gold chart. Within wave *ii*, we should be working on wave !v! of ^c^, which has a minimum target of 1238.30, which is the wave ^a^ of *ii* low.

We expect further weakness in the gold price, at least until we reach the 1238.40 low.
Trading Recommendation: Long gold. Use puts as stops.
Active Positions: We are long, with put options as stops!


Short Term Update:

The SP500 traded lower in Friday’s day session, and in the overnight session the SP500 Futures are down about 14 points. The chart is getting uglier now.
We have updated our 120 Min and Daily SP500 Charts, to indicate that we are now rallying in an incomplete wave *c* of .ii. diagonal ending pattern.

Within wave *c* we should be moving higher in wave ^v^, although we are still waiting for confirmation at the all of wave ^iv^ is complete at the 2743.19 low. Our minimum target for its completion is the wave *a* high of 2801.90.

Since we are working on an ending diagonal triangle pattern, we need to watch for a break below the lower red trendline to announce the completion of the pattern.

Typically, a break of the lower trendline of a rising diagonal triangle is violent!

Trading Recommendation: Short with a 2800.00 call as a stop.
Active Positions: Very short with a 2800.00 call as a stop.


Short Term Update:

The GDX was higher in Friday’s trading session. The wave counts mystery of GDX versus gold has been solved, as gold has finally moved lower, as the GDX action suggested it would.

We have updated our current count as shown on the daily GDX chart to indicate that we are still heading to our minimum target of 20.84 to complete all of wave ii. The end of wave ii in the GDX should also be marked by the end of wave *ii* in gold!

Trading Recommendation: We suggest buying all of the above gold stocks and indices for a long-term hold.
Active Positions: We are long the GDX, ABX, KGC, NEM, SSR, and XGD(TSX) with no stops!!

Free Offer For 321Gold Readers: Send me an email to admin@captainewave.com and I’ll send you a free report on the US dollar. I highlight where the rally is likely to end and a major down leg will start!



Jun 25, 2018
captainewave & Crew!
email: admin@captainewave.com
website: www.captainewave.com

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.

321gold Ltd