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Stocks sold off last week…

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Update: Stock Market, Gold Topping

The charts below were sent out to my subs last night. The SPX is in a bearish rising wedge formation and it looks like a top on March 2 near 1980 is in the offing. Gold and GDX are breaking down. The GDX charts below are just a possibility, but often times tops like this take longer than that projected in the charts below. March 14th is the new projected low for the stock market. A minimum of around 1840 SPX looks likely by that date. A rally into or around March 24 at this point looks likely for the stock market.

SPX 30-Minute Rising Wedge Chart
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GDX Daily Chart
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GDX Daily Chart 2
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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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