• 32 mins Has Dogecoin Become The New GameStop Pump-and-Dump?
  • 3 days 3 Semiconductor Stocks Looking Great On EV Demand
  • 5 days Robinhood’s $40B March IPO Is In Grave Danger
  • 6 days Are Bots Responsible For GameStop’s Massive Runup? 
  • 7 days Learning From Buffett’s $11 Billion Mistake
  • 10 days The Token Boom Spawns Digital Gold Mine in Art, Collectibles
  • 11 days The “Oil Of The Future” Is Set To Soar In 2021
  • 11 days Wealthy Could End Up Footing The Bill For States’ Budget Shortfalls
  • 11 days Could This Be The Hottest Commodity Play Of 2021?
  • 12 days JP Morgan Says Fintech Will Steal The Disruptor Show
  • 14 days Facebook Plays Dirty Down Under
  • 14 days Could This Be The Most Exciting Lithium Play Of 2021?
  • 17 days China Sidelines US As EU’s New Top Trading Partner
  • 19 days 3 Smart Ways To Play the Global Chip Shortage
  • 20 days Flying Taxis Are The Number One Speculative Bull Arena
  • 21 days Ocean Power: The Missing Link
  • 26 days Luxembourg’s Ultra-Secrecy Still Attracts Hundreds Of Billionaires
  • 27 days Robinhood Is Under Fire And Trading ‘Democracy’ Is In Question
  • 28 days Bitcoin Could Be Worth $12 Trillion In The Long-Term
  • 29 days The Biggest Tech IPO Since Uber … For Farmers
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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, GDX Rally Expected, Now What?

Last time I wrote, I was expecting an important top in the stock market by the 28th and a minimum of 1985 SPX. We closed at 1988 Friday after tagging 1993. Gold stocks began to rally strongly Thursday into Friday as we hit the 8 TD/3 week low Wednesday at new lows. Now what?

We have the 12/13 TD low due Monday along with a 4 TD +/- 1 TD low max; also a TLC low due then. My expectation is for a quick 57 point SPX drop possible early Monday down to 1930 (see chart below). This should bring down the mining stocks with it, but it should all be temporary. GDX could come down into the mid $13 area, but I expect we may see $17 by Sept 2. As for the stock market, I believe we may have one more up wave left to perhaps the 2014 SPX area pre-Labor Day.

Monday's astro has the conj. with Jupiter and the Sun opposing Neptune and this is a negative. The seasonal bias, as well as the 12/13 TD low should launch the stock market higher into Sept. 4 to complete wave (w) of B.

After that, I believe we fall into mid month to lower lows around Sept 17 to finish wave X. The mining sector looks to be especially great for trading up and down in the coming weeks too. We have done well, despite being a little early in some of our trades. Our new mining stock sector signal trading via NUGT and DUST is already +32% in just 2 weeks; our SPXL/SPXS stock market signals are +80% since April 15, all 2015 verifiable at Collective 2.

I believe we are still in the midst of a 20% bear market that should terminate in early October near SPX 1700. Meanwhile, I believe we are in the gyrations of a B Wave flat flag that should complete itself somewhere near Sept 30/October 1 before turning down hard in Wave C.

S&P500 10-Minute Chart
Larger Image

GDX 30-Minute Chart
Larger Image

 


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
We also offer auto-trading for those who don't have the time to trade their own accounts.

To view the details more clearly, you may visit our free chart look at http://charts.blustarmarkettimer.com
This web site is sometimes updated periodically as events unfold.

 

Back to homepage

Leave a comment

Leave a comment