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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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More Stock Market, Gold Selling Next Week?

The SPX should hold about 1943/44 Monday and then drop to around 1850 by Feb 3 or 4. The astro/fib CIT turns are Feb 1 and Feb 4. There is a Bradley turn due Feb 3-5. The 16 TD low is due Feb 3.

Astro-wise we have Venus conj Pluto as it translates the Uranus/Pluto square Feb 5-6. Mercury translates this same pair Jan 30/31. Normally, the stock market makes it low before the Venus Pluto conjunction suggesting Feb 3 to 4 for the low. This would agree more with the astro/fib turns, however, a bit of a stretch for the 16 TD low to meld with the 5 week low on Feb 25 if the low comes on the 4th, but not impossible.

GLD should drop about 3%. Normally this translates to 10% on the GDX and a 30% increase in DUST. This will be a buy the dips market in each sector into mid Feb where the next Bradley turn is due (Feb 17/19). After that, the 5 week low is due Feb 25 where there is another Bradley turn (Feb 24/25). A retest of the Jan 20 low would be likely be followed by a strong March rally if all things remain the same.

S&P500 Index 15-Minute Chart
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Market vectors Gold Miners 15-Minute Chart
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GLD Daily Chart
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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
BluStar Market Timer offers auto-trading for those who don't have the time or inclination to trade their own accounts.

 

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