Stock Market Melt Down at Hand?
Over the weekend I had written that I believed the market would go up first before dropping. I had based that on the normal Mercury retrograde topping action of the past. I also warned that the market was acting screwy too and the unexpected may happen, especially in light of recent events and the horrible astros this week. My subscribers were warned over the weekend that if the market fell hard Monday, the meltdown scenario would likely be in play for the week.
The astros are not kind this week for the stock market. Last August 24th, we saw the SPX fall into moon in the latter stages of Sagittarius, which would be January 7th this time around. The larger 100 TD low has a wide variance and can be due this week. A few weeks ago, I also posted that I had a TLC low due January 6 or 7.
We are long volatility via UVXY today and long GDX via NUGT. Just a head's up. We may be seeing a large drop dead ahead.
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
BluStar Market Timer offers auto-trading for those who don't have the time or inclination to trade their own accounts.