• 6 hours The Crushing Reality Of Poverty In America
  • 9 hours Should You Buy Into The World’s Largest IPO?
  • 12 hours The Infinite Possibilities Of Cosmic Energy
  • 1 day Analysts Link Walking To Economic Growth
  • 2 days Will Japan Turn Its Back On The Aramco IPO?
  • 3 days Global Debt Soars To $188 Trillion
  • 3 days The World's Largest Gold Miners Are Getting Creative
  • 4 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 5 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 5 days Here We Go Again: Another Giant Telecoms Mega-Merger
  • 5 days World's Largest Gold Miner Sees Profits Triple
  • 6 days Microsoft Japan Trials 4 Day Work Weeks, Productivity Soars By 40%
  • 6 days Hedge Funds Lose $4 Billion In Four Days As California Wildfires Rage On
  • 7 days New Viral App May Be A National Security Threat In Disguise
  • 7 days China's $10 Trillion Space Play
  • 8 days Human Energy: Debunking The Matrix
  • 8 days Cannabis Has Become A Real Estate Selling Point
  • 9 days The Gold Stock Boom Is Just Getting Started
  • 10 days Fading Trade War Hope Leaves Oil Directionless
  • 11 days Millennials Deal Death Blow To America’s Biggest Breweries
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Stock Market Downtrend Continues

Last weekend, I was looking for a low on Monday, a rally into Wednesday and then down into June 8, followed by a rally into June 10 and then down hard into June 12. The low came on Tuesday, and we did rally into a Wednesday top, but the amplitude of the waves forecast was wrong. One never knows exactly how the waves will play out until one is right on top of the occurrence (later as it unfolds it becomes a little clearer).

Right now it looks as though the SPX is due to go to the next pivot/support near 2067/68 on Monday. A bounce back to the bottom of the rising wedge near 2100/01 (Friday's top) would be the next expectation into Wednesday next week and then down hard into Friday. Friday's expected bottom target is anywhere between 2034/35 on the low side and 2047/48 on the high side.

The chart below explains the e-wave denotations with pivot/supports:

S&P500 Chart
Larger Image

Either way, SPX 2034 or 2048 we should rally strongly (+6%?) into the 24th of June (Jupiter trine Neptune June 22 +/- indicates a topping area). I prefer the 2034 target as A=C in price and 2034 is the .618 retrace of GREEN WAVE A, but with the 200 day moving average near 2048 next Friday and the fact that 5 weeks ago, the SPX fell about 52/53 point in the same cycle position, I have included it as an alternate. I would give it a 60/40 ratio odds: the preferred over the alternate, so it could be flip of the coin. In the past 3 years, we have made a top about every 35 weeks and then fallen for 3-5 weeks at least 100 SPX points. Also, a lower wave Z of B would provide more strength for a powerful C WAVE rally. We'll see!

Astro-wise, we have Mercury going direct Thursday and Neptune going retrograde on Friday. This is a huge astro nesting for a reversal. It is also the next 4/13 TD low.

Silver and gold have been plummeting (as I had forecast a couple of weeks ago), but these, too, should reverse and go markedly higher (with the stock market) after June 12 into the week after OPEX/Futures Expiry.

 


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.

The BluStar Market Timer also now offers auto-trading and timely signals trading the Direxion BULL/BEAR 3X ETF and Silver Bull/Bear ETF's AGQ and ZSL. We are up over 24.6% since April 15, 2015 with the auto-trade signal. That is +5.6% last week alone.

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.charts.blustarmarkettimer.com
This web site is also updated periodically as events unfold.

 

Back to homepage

Leave a comment

Leave a comment