• 737 days Will The ECB Continue To Hike Rates?
  • 738 days Forbes: Aramco Remains Largest Company In The Middle East
  • 739 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,139 days Could Crypto Overtake Traditional Investment?
  • 1,144 days Americans Still Quitting Jobs At Record Pace
  • 1,146 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,149 days Is The Dollar Too Strong?
  • 1,149 days Big Tech Disappoints Investors on Earnings Calls
  • 1,150 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,152 days China Is Quietly Trying To Distance Itself From Russia
  • 1,152 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,156 days Crypto Investors Won Big In 2021
  • 1,156 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,157 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,159 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,160 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,163 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,164 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,164 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,166 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Mining Share, Gold, Stock Market Forecast

The stock market, as measured by the S&P 500, reached its 115 trading cycle top the third week of April. The next important cycle low is due on July 5th. The SPX is in process of making a head and shoulders top, and should continue higher into the mid-point of the Mercury Retrograde Cycle around May 11th. My target price is 2080. Friday was the new moon low, but also a top for the precious metals complex.

SPX Daily Bradley Cycles Chart
Larger Image

Conversely, the mining sector should hit a short term bottom on May 11, before eventually bottoming on the May 18-20 expected double bottom. Commercial COT's are record short on gold and gold's 20 week low looks to be due on week 22 from the December 17th bottom. The dollar chart looks like it has formed an Irregular Flat Bull Flag with a strong move up due in the coming 2 weeks.

GLD Daily Chart
Larger Image

The IMP and Rising Wedge on GDX in the charts below show what I expect in the days and weeks ahead.

GDX Daily Rising Wedge Chart
Larger Image

 

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

 

Back to homepage

Leave a comment

Leave a comment