• 781 days Will The ECB Continue To Hike Rates?
  • 781 days Forbes: Aramco Remains Largest Company In The Middle East
  • 783 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,183 days Could Crypto Overtake Traditional Investment?
  • 1,187 days Americans Still Quitting Jobs At Record Pace
  • 1,189 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,192 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
  • 1,195 days China Is Quietly Trying To Distance Itself From Russia
  • 1,196 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,199 days Crypto Investors Won Big In 2021
  • 1,200 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,200 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,203 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,203 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,206 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,207 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,207 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,209 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Stock Market Update

Over the weekend, my thinking was we had higher prices ahead of us. I actually ignored the astrological reversal mid-zone of the Sun translating Neptune, Saturn and Jupiter on March 4th. My logic was the powerful, advancing MACD and momentum indicators. My main reservation was the lack of early volume.

We have now broken down through a rising wedge much like we did back in early November 2015; as well the 4 hour MACD and current action is very similar to that time frame. If we follow the same pattern, we should be down into the low 1700's SPX minimum by May 2016.

SPY 4-Hour Chart
Larger Image

Gold and GDX could run sideways into or around FED day March 16, but I believe it is doomed to go much lower. We shorted GDX via DUST last week and Monday and covered by selling DUST early today on GDX weakness expecting a bounce, which we got.

 


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