• 2 hours Disney Beats Out Comcast In $71.3B Mega-Merger
  • 5 hours The Feds Continue To Prop Up Equities Markets
  • 7 hours Bejing's Sway In South China Sea Is Fading
  • 23 hours Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 1 day Airbnb In Acquisition Mode Ahead Of IPO
  • 1 day Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 1 day Champagne Sales Slow As European Economic Worries Grow Louder
  • 2 days Putin Signs “Digital Iron Curtain” Into Law
  • 2 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 2 days Tesla Looks To Jump Into Indian Market
  • 2 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 3 days Homeowners Experiment With Risky New Investment Trend
  • 3 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 3 days Ford CEO Gets Raise After Massive Layoff Round
  • 4 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 4 days Where To Look As Gold Miners Inch Higher
  • 5 days Google Faces Billions In Fines From European Regulators
  • 5 days The Energy Industry Has A Millennial Problem
  • 6 days Russian Banks Scramble For Sanction Loopholes
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  1. Home
  2. Markets
  3. Other

Big Moves Coming in The Stock Market!

After reading today's market action, I realized that we were due a bigger move down this week than I originally had anticipated. I have been short the market somewhat from last week from near 2120 SPX, but not heavily so. I sold my leveraged long positions I picked up around 2073/78 on April 17 at 2118 Thursday for a nice 8% profit (all verifiable). The reason I'm writing is to update what I'm seeing going forward, not to gloat over my recent market gains.

Today's move to 2125.92 did not shake me out. I remained steadfastly bearish going forward this morning. It is the action of the market into the afternoon that had me realizing that we were going down a lot further than I had thought and now I'm thinking we go down to SPX 2056 by Wednesday, April 29, 2015. This date was mentioned on my weekend report.

I think the moves both up and down in the near future are going to get quite dramatic with the bulls having a slight edge. I believe it is going to be great for traders like me, but for the average buy and hold person not so much.

I drew up an hourly chart of the S&P 500 with all the Elliott Wave denotation as well as an explanation of the market cycles.

S&P500 Hourly Chart
Larger Image

I keep saying: it is no longer a buy and hold market but....

 


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 600 market timers. This occurred despite what the author considered to be (and still considers 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.

 

Back to homepage

Leave a comment

Leave a comment