Stock Market: Alternate Projection

By: Brad Gudgeon | Tue, May 2, 2017
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The chart below shows the alternate projection going forward for the S&P 500. This projection shows an extended 4 trading days to the normal 16 TD top (May 4th?), and also the next low due around the time of the next Bradley turn due May 11-12. May 15 is exactly 7 weeks (34 TD's) from the 20 week low of March 27.

The .382 retracement is exactly at the point of the large gap on the chart and should hold any decline today. Either May 4th is the all important top or we see another one in late May or early June.

November 4th, 2016 to March 27th, 2017 measures 96 TD's, just 4 TD's shy of a perfect 100 TD's. The 200/400 TD low is due in the summer of 2017.

S&P500 Hourly Chart
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Brad Gudgeon

Author: Brad Gudgeon

Brad Gudgeon
BluStar Market Timer
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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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