• 2 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 3 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 3 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 3 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 4 days U.S. Auto Sales Fall By 75%
  • 4 days Violating Quarantine? Big Brother Is Watching
  • 5 days Does Gold Still Have Some Room To Run?
  • 5 days Major Acquisition Gives The World’s First Green Ride-Share Another Edge
  • 5 days U.S. Pushes For Digital Currency For Immediate Stimulus
  • 6 days The Impossible Challenges Created By Growing Population
  • 6 days Gold Skyrockets After Fed Pledges "Unlimited" Cash To Boost Economy
  • 6 days World’s Richest Lose $1 Trillion In Stock Market Rout
  • 7 days Gas Stations Shut Down In Venezuela As Coronavirus Crisis Intensifies
  • 7 days The Best And Worse Case Scenario For The U.S. Stock Market
  • 7 days 3 Industries Soaring During The Coronavirus Crisis
  • 8 days The Key To Commercial Hydrogen
  • 8 days Gold Still Beating Much Of The Market Despite Sell-Off
  • 9 days Gold Miners Struggle With COVID-19 Fallout
  • 10 days The Dollar Reigns Supreme In Times Of Crisis
  • 10 days The Most Exciting Green Startups To Watch In 2020
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…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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 Down 16% More into March 11?

The chart below shows that the SPX 1650 level +/- may be next and sooner than most think. Looking at this 2 hour chart of the SPX, we can see a similarity to the December 27, 2015 top. The move up from February 19 into February 22 is stronger by 27.7% suggesting a harder move down this time than in late December into January 20th. March 11th is nearby to the Bradley March 10th date. March 11th is the anniversary of the 2015 20 week low, is 20 TD's from the January 20th low, and the 7/28 week cycle low from August 24th, 2015. The 1650 level beckons.

SPY 2-Hour Chart
Larger Image

GDX looks like it will make a bottom on Tuesday this week and rally one more rally up above the 19.00 area. GDX and gold look vulnerable to lots more selling ahead.

My 1840 SPX level will have to wait three days. By Thursday this week, we may be well below 1840.

 


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.

 

Back to homepage

Leave a comment

Leave a comment