Update on the Stock Market, Miners
I had an alternate I posted a few weeks ago that suggested that the S&P 500 would fall to 1995/96 by June 17, then rally strongly into month's end. Today's market action suggests that the alternate is the likely choice going forward.
The junior miners "GDXJ" made an irregular bottom three days after the initial bottom last three week cycle go round. This tells us that we likely see a larger throw down this time around below the last low. The whole pattern suggests a broadening top formation in play in GDXJ, GDX and also the SPX.
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