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Gold, Dollar, & Stk Mkt: Tidal Waves In Playcaptainewave Mar 9, 2020 Gold:
This past week we made a new high for the current rally, reaching 1692.80 and closing at 1672.40. Within that wave all of wave $i$ ended at 1691.70 and all of wave $ii$ at 1564.00. We are now rallying sharply in wave $iii$. Wave $iii$ should subdivide into a 5wave impulsive sequence… so we are probably getting close to the completion of wave ^i^ of $iii$. After wave ^i^ ends, we should see a correction in wave ^ii^, before we start to rally again in wave ^iii^. Our initial projected endpoint for all of wave $iii$ is: $iii$ = 1.618$i$ = 1961.20. Our current projection for the end of wave .iii. is: .iii. = 2.618.i. = 2036.80. Active Positions: Long with puts as stops! The USDX was sharply lower this past week. we reached a low of 95.69, closing at 95.93. All of wave -c- of (ii) is complete at the 99.91 high. We are now heading sharply lower… in the initial stages of our expected and very destructive wave (iii) drop. Active Positions: Short, risking to 100.00! The SP500 was higher this past week reaching a high of 3136.72 in a very volatile trading week, although by the end of week we had given up most of those gains to close at 2972.37! One option is that wave v could become and ending diagonal triangle that could see all-time highs again… before it ends and a titanic meltdown begins! Our other scenario is thatall of wave v and V is now complete at the 3393.52 high, although the internal wave structure of the current wave v rally has yet to show us enough wave counts evidence to confirm this (horrifying for investors) scenario. We will need some time to rework our current wave v count to confirm that it is complete at the 3393.52 high. Active Positions: Flat! The GDX was sharply higher this past week reaching a high 29.96, closing at 29.41. We have updated our count for the GDX to suggest that we are still rallying in subdividing wave (iii). In this count wave -i- of (iii) ended at 30.00 and all of complex wave -ii- at the 25.43 low. We are now rallying in the initial stages of a sharp wave -iii- rally. Our initial projection for the end of wave -iii- is: -iii- = 1.618-i- = 41.38. Our wave (v) rally that has a current target of 48.95, which is the wave 3 projected target: 3 = 1.618(1) = 48.95! Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops! ### Mar 9, 2020 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. 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