"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 13 hours A Weaker Dollar Is Creating More Global Millionaires
  • 14 hours Could Bitcoin Break The Internet?
  • 15 hours The Man That Predicted The Dotcom Bubble Has Advice For Investors
  • 16 hours VW Emissions Scandal Claims Another CEO
  • 17 hours Commodities And Equities Hit Hard In Fresh Round Of Tariffs
  • 19 hours How Will Social Security Remain Solvent?
  • 21 hours Stock Markets Open Lower On Renewed Trade War Fears
  • 2 days Should Investors Start Lining Up For North Korea?
  • 3 days Crypto Heists Are On The Rise
  • 4 days Got Money To Launder? Try Dubai Real Estate
  • 4 days Swiss Commodity Trader Takes 50% Profit Hit
  • 4 days The Tech Fueling The Fourth Industrial Revolution
  • 4 days Bitcoin Struggles Following Manipulation Claims
  • 4 days Almost Half Of San Francisco Residents Want Out
  • 4 days Will Cryptos Hold Up In A Major Financial Crisis?
  • 5 days Why Gold Isn’t Working As Stock Hedge
  • 5 days Samsung Commits To 100% Renewable Energy
  • 5 days London Lashes Out At The CEO Pay Gap
  • 5 days Banks Spent $1.7B On Blockchain Last Year
  • 5 days Solar Boom Unfazed By New Tariffs
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…

More Info

Counter Trend Rally in Gold Due; Stock Market Topping?

The GLD chart below shows gold in a declining wedge. Cyclically, an 8 TD low is due in gold and a 4 TD low due in GDX on June 1st. A strong rally is indicated into June 2nd for both gold and GDX.

The stock market (as measured by the S&P 500) has either made its secondary top on May 31st or will likely do so on June 1, in my opinion. Another large drop is due in the weeks ahead.

Three charts below explain everything:

GLD 2-Hour Declining Wedge Chart
Larger Image

GDX Hourly Chart
Larger Image

SPX Daily 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