• 782 days Will The ECB Continue To Hike Rates?
  • 782 days Forbes: Aramco Remains Largest Company In The Middle East
  • 784 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,183 days Could Crypto Overtake Traditional Investment?
  • 1,188 days Americans Still Quitting Jobs At Record Pace
  • 1,190 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,193 days Is The Dollar Too Strong?
  • 1,193 days Big Tech Disappoints Investors on Earnings Calls
  • 1,194 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,196 days China Is Quietly Trying To Distance Itself From Russia
  • 1,196 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,200 days Crypto Investors Won Big In 2021
  • 1,200 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,201 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,204 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,204 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,207 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,208 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,208 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,210 days Are NFTs About To Take Over Gaming?
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…

  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