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SP500 & USD Crash But A Surge For Gold?captainewave Nov 10, 2024 SP500 CHART:
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-, as shown on our 60 Min SP500 Chart, which has an updated projected endpoint of: .iii. = 2.618.i. = 6795.68. $iii$ = 1.618$i$ = 6450.65. We expect higher prices as wave $iii$ of .iii. of -v- continues to develop… Before it all melts away! Trading Recommendation: Flat All of wave ^c^ is complete at the 114.75 high and we are now falling in wave ^d^. Within wave ^d^, we have adopted our very bearish alternate count which is suggesting that wave a ended at 100.42 and wave b at 107.05. We are now falling in wave c, which has a current projected endpoint of: -iii- = 1.618-i- = 95.47. Within wave -iii-, we have adjusted our count to suggest that all of wave $i$ ended at 99.86, and that we are now rallying in wave $ii$, which has the following last retracement level: 78.6% = 104.98. Our alternate count is suggesting that wave b is not complete at the 107.05 high and instead is becoming a bearish triangle as shown on our Daily USDX Chart. In this count, within wave b, we completed wave -a- at 107.05 and wave -b- at 99.86, and perhaps wave -c- at the 105.35 high. Wave -c- cannot rally above the wave -a- high of 107.05, for this triangle option to still be valid. If wave -c- is now complete at the 105.35 high then we be starting to fall wave -d-, which cannot drop below the wave -b- low of 99.86. Trading Recommendation: Short risking to 107.10. We are 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. $iii$ = 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).
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: $v$ = 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. !iii! = 4.236!i! = 2891.80. Within wave !iii!, we completed wave @i@ at 2570.40, wave @ii@ at 2502.70, wave @iii@ at 2685.40, and wave @iv@ at 2604.20. We are now look to have completed wave @v@ and !iii! at the 2790.10 high. We are now falling in wave !iv! which has the following retracement levels: 23.6% = 2689.60. We have now entered our retracement zone, so we need to be on guard for the completion of wave !iv! and the start of another rally in wave !v!. We think the development of wave !iv! should take longer, but based on price targets, it does not need to. Wave !iv! could still become a bullish triangle formation. Our projected target for the end of wave -iii- is: 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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