   | |||
US Stk Mkt: Doom Waves Intensifycaptainewave Aug 10, 2024 Crude Oil: 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. 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 |
