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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 we saw the market continue to push lower as we are now testing the lower end of support for the potential wave (iv) per the yellow count. If the market is able to hold around this region and turn higher on five waves, then we still can see this continue to push higher. However, a break of support here would open the door for a larger degree top to be in place for the white wave (b).
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