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US Stk Mkt: Doom Waves Intensifycaptainewave Aug 10, 2024 Our daily oil chart is in sync with our failing US growth prediction… and with an imminent and complete collapse of the US stock market. For oil, wave i ended at the 103.65 high and we are now falling in a lengthy and complex wave ii correction. Our retracement levels for all of wave ii are: Active Positions: Long crude, with puts as our stop. Long Suncor! An imminent collapse in rates, which we are projecting, would accompany a meltdown in growth and in the stock market. Here’s our current take on the matter: It now looks like wave -iii- is subdividing with wave !i! ending at 4.227% and wave !ii! at the 4.479% high. We should now be falling in wave !iii!. Trading Recommendation: Go short, risking to 5.050%. Analysis: As can be seen on our Daily SP500 Chart, we completed wave iii of V at the 4748.83 high and a wave iv bullish triangle at the 4048.23 low. We should now be rallying higher in wave v. We are now moving lower in wave A, although at the moment we do not know what corrective pattern wave A will take. For the time being we will assume that wave A will become a simple 3 wave zigzag pattern, which we will call abc. Within wave a, we should be falling in an impulsive manner, and in that case, we have updated our count to suggest that all of wave .i. of a, ended at the 5390.95 and all of wave .ii. at the 5566.16 high. We are now falling in wave .iii. which has an initial projected endpoint of: .iii. = 1.618.i. = 5115.19. We have now reached our first projected endpoint for wave .iii. although it could still extend lower before it ends, which would be: .iii. = 2.618.i. = 4836.47. If all of wave .iii. is complete at the 5119.26 low then we are now moving higher in wave .iv., which has the following retracement levels: 23.6% = 5224.73. We have now reached our 38.2% retracement level, so we need to on guard for the completion of wave .iv. and the start of another drop in wave .v. to complete all of wave -i-. The other option is that wave .iii. Is still underway and heading to our second endpoint of 4836.47. In this case, within wave .iii., wave $i$ ended at 5119.26 and we are now rallying in wave $ii$, which has the following retracement levels: 50% = 5342.17. In either case, after this correction ends the SP500 is going lower in either wave .v. of -i- or wave $iii$ of .iii. We project that the size of the drop in the SP500 is going to be significant! Thank-you! 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. 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