• 17 hours Walmart Reaches Out To Chilean Government For Protection
  • 21 hours The Most Exciting Gold Find Of The Decade
  • 23 hours Mining Boom Sparks Deforestation Concerns
  • 2 days The Cannabis Culling Has Wall Street Disappointed
  • 2 days Vigilante Offers $100,000 Bounty To Hack Banks
  • 3 days The Dairy Industry Is Dying
  • 3 days The Most Impressive Electric Vehicle Of The Year
  • 4 days Gold Miners Are Having A Stellar Second Half
  • 5 days How 3D Printing Is Turning Each And Every Industry On Its Head
  • 5 days Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 6 days Gamblers Are Betting Big On Trump’s Impeachment
  • 6 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 7 days Will Bezos Buy The Seattle Seahawks?
  • 7 days 6 Tech Trends Transforming The Travel Industry
  • 8 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 8 days Trump Prepares For Another Key Tariff Decision
  • 8 days The Free Money Bubble Is About To Burst
  • 9 days The Crushing Reality Of Poverty In America
  • 9 days Should You Buy Into The World’s Largest IPO?
  • 9 days The Infinite Possibilities Of Cosmic Energy
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, 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