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Last Tuesday afternoon, hours before CAVA (Cava Group) was scheduled to report Earnings, this is what I posted for MPTrader members:CAVA reports Earnings after today's close. Approaching the news, CAVA is circling 61, a full 40% beneath its April 2026 high at 98.79, amid an unconfirmed new corrective low at 60.21 yesterday (8/10/26), leaving CAVA positioned for a "buy-the-news" setup (the opposite of a sell-the-news setup in a name that is up 30% to 40% approaching Earnings).
As I posted earlier this week, there was potential for silver and gold to attempt a 5th wave off the July lows. And, as of my writing this update, gold has seen a higher high, but silver has been lagging. There is still potential for it to do so, so we will watch that carefully.GDX has not only given us 5 waves up, but the 4th wave was extremely shallow, as it hovered around the .236 retracement of the 3rd wave.
Today the market moved higher after holding support overnight. However, the initial move up off of the lows did not give us a clean five-wave impulsive pattern to give us initial confirmation that we have indeed bottomed in the yellow wave (iv). With that, the door remains open to a larger top being in place per the white wave (b), but we still would need to see a full five down off of the retrace from today's low to confirm this.
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