Quick Update: GDX, SPX
Due to the FED meeting, I won't have enough time to post my thoughts and the charts too. Later on this week, I will explain more in detailed charts what I'm currently thinking.
The astro/cycle/waves suggested a top on Monday in the SPX and a low on Thursday this week. I'm expecting a negative reaction to the FED and a test of the 2116/17 area by Thursday. A bounce into Friday should be another shorting opportunity into Sept 27th. I'm thinking probably SPX 2093/94 should hold any down side next week and a strong rally into Oct 3rd into the mid 2210's should be it for the SPX.
GDX looks to be making a countertrend rally today into the low 27.00's. It, too, has a destiny date with Sept 27th and possibly as low as the 23.85 area.
We added auto-trading with Global Auto Trading last week. We also added two new trade alerts: Volatility with UVXY and SVXY, and Options Trading that trades SPY, GDX and UVXY/SVXY puts and calls.
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Another thing I wish to mention: please don't trade this or any other forecast verbatim without getting proper updates from the author. Tracking the stock market is much like tracking the weather: you need to have regular updates. Things can and do change.
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