• 287 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

A Stock Market Dip in the Offing?

Right now, the coming dip could be a little scary, but shouldn’t amount to much, maybe around 4%. My guess is the first couple of days next week should see a sharp drop, but a buy the dip mentally and seasonal strength should prevail for now. The astros were ripe for a top around February 27-March 2. We have another even more complex period coming up March 31-April 15.  March 31 could be a top and then another secondary bottom around April 11-12 would be ideal. A sharp drop next week would produce a need for a momentum failure retest by around early/mid April.

S&P500 Daily Chart
Larger Image

GDX had us watching for a top on Tuesday and buying the dip late in the day (21.27) and early Wednesday. I had a target for Thursday around 23.42 and we tagged 23.45. My subs made a huge 23%+ on NUGT and even bigger on GDX calls. I am currently neutral on GDX, but bet higher highs are soon around the corner.

 


The subscription website is http://www.blustarmarkettimer.info

 

Back to homepage

Leave a comment

Leave a comment