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Stk Mkt Danger & Higher Targets For Gold

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

Oct 27, 2024

BOND YIELD CHART:



Analysis:

The US 10-year Bond Yield has now completed wave i at the 5.021% high and we are now correcting that 5-wave impulsive sequence within wave ii, which has the following retracement levels:
 
50% = 2.698%;
61.8% = 2.155%.

It now looks like wave -iii- is subdividing as shown in detail in our Daily US 10 Year Bond Yield Chart. We have updated that internal wave count to suggest that wave *iii* ended at the 3.603% low and that the current rally is wave *iv*. Our last retracement level for wave *iv* is:
50% = 4.120%.

We have now exceeded our 50% retracement level and for our current short-term analysis to be correct we need to move down “about now”, in wave *v*.

The current wave *iv* is getting very deep and may be suggesting that something else is happening here, and fundamentalists may be concerned that after the Fed cut rates by an “emergency” 50bps, the government bond auctions are not getting enough demand.

The US government’s outrageous addiction to debt may be finally starting to become a major concern for mainstream analysts and money managers.

We do see rates turning down soon, and that fits with our scenario of a topping stock market and an accelerating move higher for gold.

Trading Recommendation: Go short, risking to 5.050%.
Active Positions: Short, risking to 5.050%!


SP500: 



Analysis:

We are now working on the assumption that wave -iv- ended at 5402.62 and we are now moving higher in wave .iii. of -v-, which has an initial projected endpoint of:

.iii. = 1.618.i. = 6263.57.
Within wave .iii. we completed wave $i$ at 5725.84 and wave $ii$ at 5674.00, so we should be moving higher in wave $iii$, which has an initial projected endpoint of:

$iii$ = 1.618$i$ = 6196.97.

We expect higher prices as wave .iii. of -v- continues to develop.

We have also just introduced an alternate count which is suggesting that all of wave -v- and v are complete at the 5878.46 high, as shown on our 120 Min SP500 Chart.

We will be watching this alternate count carefully!

Trading Recommendation: Stay flat (but not for much longer).                                                                               
Active Positions: Flat but watching for a trigger to go short!

Special Subscription Offer: At $99/mth the Captain Ewave newsletter value is superb, and we have a special offer this week of just $199 for a three-month subscription! Investors get six updates a week from the Captain. Send us an email at admin@captainewave.com or click this link and we’ll get you on board. Thank-you!


Gold:



Analysis:

We continue to rally in wave .v. of -iii-. Within wave .v., we completed wave ^i^ of *i* at the 1997.20 high and all of wave ^ii^ at the 1931.80. We continue to rally in wave ^iii^, which has a projected endpoint of:
 
^iii^ = 6.25^i^ = 3101.20.
                                             
Wave ^iii^ is subdividing with wave -i- ending at 2151.20 and wave -ii- at the 1973.10 low. We are rallying in a subdividing wave -iii- with wave $i$ ending at 2088.50, wave $ii$ at 1984.30, wave $iii$ at the 2431.50 high, and our wave $iv$ bullish triangle at the 2277.60 low.
 
We are now thrusting higher in wave $v$, which has a projected endpoint:

$v$ = 1.618(2431.50-1973.10) = 3035.50.

Within wave $v$, we completed wave *i* at the 2483.70 high and wave *ii* at the 2353.20 low, so we are now rallying in wave *iii*, which has a projected endpoint of:

*iii* = 2.618*i* = 2850.40.

Trading Recommendation: Go long gold. Use puts as stops.  
Active Positions: Long gold futures (in size from $1080), with puts as our stop!           

Free Offer For 321Gold Readers: Please send me an Email to admin@captainewave.com and I’ll send you our free “Hi Ho Silver!” report. We highlight updated wave counts and charts for this marvellous metal, and as a bonus we include a very interesting junior silver miner in our Ewave Juniors portfolio!

Thank-you!

Captain Ewave & Crew

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

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