Stock Market Topping, Gold Looks Lower

By: Brad Gudgeon | Tue, Dec 6, 2016
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The stock market looks like it is making a distribution top into the FED meeting. We may see a small pull back into late week and then higher prices into the 14th. We could see a sharp drop into the 5 week cycle low due around the 19th of December. Overall, the market should be lower into March/April 2017 (Minor Wave Wave X of Intermediate Wave Z of Primary Wave 4) next year due to a FED rate hike.

I believe from top to bottom, 14% could be taken out of the market into the Spring. The recent pattern begs for a summer top and more selling into the fall of 2017 that could be a lot worse than the one in the spring. The final wave up before the BIG CRASH should take most or all of 2018 to accomplish. A lot of experts believe the crash will come sooner than that, but the wave count begs to differ (a word to the wise: start taking advantage of your financial and prepping affairs before this coming market crash hits you and your family like a ton of bricks, because it will catch the majority of Americans by complete surprise).

Gold stocks still have room to fall further. The pattern is bearish. A move down to GDX 16.50/17.00 could happen after the FED meeting along with the stock market down to 2150 SPX or so.

S&P500 Daily Chart
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GDX 2-Hour Chart
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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

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.

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