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Market Sentiment At Its Lowest In 10 Months

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Brad Gudgeon

Brad Gudgeon

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…

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Stock Market About to Hit Sudden Air Pocket!

I warned back a few days ago that the market looked tired. We got a few more points since then as the FED minutes on Wednesday help fuel the market higher. The set up is there for another "sudden 2% drop" like we had on Mar 31-Apr 1 early next week. The chop continues and the smart money keeps selling to the public while the FED cheers them on! Don't worry its OPEX week, and we have the new moon as well Pluto retrograde and Mars sq. Jupiter to help us recover later in the week!

This is the weirdest sideways "distribution pattern" I've seen in 30 years of watching the stock market! In the chart below, I describe the timing methods of the best market gurus of all time and what they say is likely to happen based on my interpretation of their methodologies.

This indeed has become a traders' dream and investors' nightmare! It is likely to get worse for investors once this distribution pattern has run its course and we plummet. But for now, the FED is likely to help the smart money get rid of their stocks all the way into early May. We have another FED meeting on April 29 and the same set up is there like we had in the last meeting to "pump it up" after the last drop into the low/mid 2000's on the SPX, which I expect after OPEX.

S&P500 1-Hour Chart
Larger Image

People need to wake up! We aren't in Kansas anymore! The day of reckoning is coming, and the days of buy and hold are behind us! From what I'm seeing going forward, the risks to the down side will increase in intensity while the upside remains limited from here forward into 2018. In the fall of 2020, I see the market falling all the way to Dow Industrials 3628 and S&P 500 443, the Dec 1994 bottom. That is the point the extended fifth wave began into the year 2000. I will go over this in later commentaries, but for now, I'm trying to navigate through this market minefield.

 


The BluStar Market Timer was rated #1 in the world by Timer Trac in 2014 (and from April 1, 2014 through March 31, 2015), competing with over 1600 market timers. This occurred despite what the author considered to be a very difficult trading environment. Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info To view the details more clearly, you may visit our free chart look at www.blustarcharts.weebly.com This web site is also updated periodically as events unfold.

 

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