Short, Sharp Pull Back in Stock Market?

By: Brad Gudgeon | Tue, Jan 10, 2017
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A short, sharp in the stock market may be in the offing over the next couple of days. I believe that last Friday’s top in the SPX signaled a Y wave top and now we should see Z of "sub-minuette wave 4". Our subs made 11.7% in 5 days buying the reverse volatility ETF SVXY. Most market gurus were gloomy going into the New Year, but we went the other way. A final wave 5 should take us just over 2310 by or around January 23.

Late January into late March or early April could see a 14+% pull back before rallying strongly into September 2017 to new highs (2365?). September ’17 to November '18 could see a nasty bear market. I still believe the final 5th wave top won’t occur until early 2020. 2020-2022 does not look good for the stock market.

S&P500 2-Day Chart
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S&P500 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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