NASDAQ and SP500 in Sync with Sept/October Drop

By: Brad Gudgeon | Wed, Mar 18, 2015
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The charts below of the QQQ (NASDAQ 100 ETF proxy) and the S&P 500 show that the US stock markets are almost entirely in sync with the September 19-October 15, 2014 drop. The main difference is that they are tracking at a slightly lesser rate of 94.9% of the former drop.

One of the differences that threw me off this week was the S&P 500. It seems to be tracking slightly earlier than it did last year (and with a different pattern), and the QQQ seems to be tracking later in time. As I write this, it is about an hour before the FOMC announcement. It looks like the US markets are not going to like what they say. If it continues the same, watch for a fake-out rally on Thursday!

The charts pretty much explain themselves. Interestingly, the Bradley Siderograph has a Major Turn due on June 9th of this year. From the expected low of SPX 1919/20 due on March 26 (and adding the exact days of the October 15-December 29th top) to we arrive on the June 9th date. That sequence ran +15%, bottom to top. That should put us slightly above SPX 2200, all things being equal. Time will tell.

QQQ Daily Chart
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S&P 500 Daily Chart
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The BluStar Market Timer was rated #1 in the world by Timer Trac in 2014, competing with over 1600 market timers. This occurred despite what the author considered a very difficult year for him. Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info To view the details more clearly, you may visit our free chart look at www.blustarcharts.weebly.com This web site is updated periodically as events unfold.

 


 

Brad Gudgeon

Author: Brad Gudgeon

Brad Gudgeon
BluStar Market Timer
Blog
eaglesoveramerica.com

BluStar Market Timer Investment Philosophy: The stock market is currently in a technical Elliott Wave Bear Market Rally. It has been exhibiting A-B-C type waves instead of the normal 5 Waves since the market topped in 2000. According to "The Original Works of R.N. Elliott", we are due for a move down to about the S&P 500 442/443 area in the next few years. In my opinion, this is no longer a buy and hold market, but a traders' market. We mainly swing trade the market with funds and ETF's, but otherwise trade according to the market's disposition and to the traders' discretion. For the year 2014, BluStar Market Timer is rated #1 according to Timer Trac. http://www.blustarmarkettimer.info

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