Big Moves Coming in The Stock Market!

By: Brad Gudgeon | Mon, Apr 27, 2015
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After reading today's market action, I realized that we were due a bigger move down this week than I originally had anticipated. I have been short the market somewhat from last week from near 2120 SPX, but not heavily so. I sold my leveraged long positions I picked up around 2073/78 on April 17 at 2118 Thursday for a nice 8% profit (all verifiable). The reason I'm writing is to update what I'm seeing going forward, not to gloat over my recent market gains.

Today's move to 2125.92 did not shake me out. I remained steadfastly bearish going forward this morning. It is the action of the market into the afternoon that had me realizing that we were going down a lot further than I had thought and now I'm thinking we go down to SPX 2056 by Wednesday, April 29, 2015. This date was mentioned on my weekend report.

I think the moves both up and down in the near future are going to get quite dramatic with the bulls having a slight edge. I believe it is going to be great for traders like me, but for the average buy and hold person not so much.

I drew up an hourly chart of the S&P 500 with all the Elliott Wave denotation as well as an explanation of the market cycles.

S&P500 Hourly Chart
Larger Image

I keep saying: it is no longer a buy and hold market but....

 


The BluStar Market Timer was rated #1 in the world by Timer Trac in 2014 (and from April 1,2014 through March 31, 2015), competing with over 600 market timers. This occurred despite what the author considered to be (and still considers to be) a very difficult trading environment.

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 also 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

Disclaimer: The information provided by the BluStar Market Timer is to be used for educational purposes only. We do not recommend the buying or selling of any securities, are not registered investment advisers and do not offer investment advice. Stock market investing is considered risky. Market timers can and do make mistakes. Past performance is never a guarantee of future performance.

Copyright © 2014-2017, Bradley Ray Gudgeon, BluStar Market Timer, Eagles Over America. All rights reserved.

 

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