Stock Market Air Pocket Due

By: Brad Gudgeon | Thu, Nov 17, 2016
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The stock market is in a position where it should see a 2-3% air pocket Friday November 18th and possibly early into early Monday the 21st. The SPX has a downside target of 2120's to the 2140's. Monday is the ten week low from Sept 12.

The pattern is bullish after the sell-off with another higher high due late next week. The Jupiter aspects are strongly bullish into about the Thanksgiving Holiday.

The overall Wave 4 (since late 2014) of 5 (since 2009) of V (since 1942) of [V] (since about 1776) current viewpoint is still intact. Wave 2's and 4's can have all kinds of nuances in the internal wave counts. R.N. Elliott, himself, said he preferred to stay out of trading during these times.

As far as the current, very short term outlook is concerned, there are some troublesome developments, but the outcome looks bullish once complete.

Current astro is topping, bearish:

Nov 17, 2016 5:10 PM Neptune 9 Pisces 15 opposition True Node 9 Virgo 15
Nov 18, 2016 9:58 AM Mercury 9 Sagittarius square True Node 9 Virgo 11
Nov 18, 2016 11:04 AM Mercury 9 Sagittarius 12 square Neptune 9 Pisces 15

The 8 TD low +/- 10 TD's plus the 5 week low is due in this time frame.

We have an irregular top on top of another irregular top on the SPX with negative money flow and momentum divergences, along with inter market bearish divergences. On Saturday we have Neptune turning stationary direct, which is a reversal signature.

Bottom line is I expect Friday to be down hard into the 2120's/40's SPX, but then I turn bullish Monday.

 


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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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