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

  • 1 hour How Will Gold React As North Korean Tensions Cool?
  • 3 hours Is This The Biggest Mining Opportunity Of 2018?
  • 17 hours China’s $33 Trillion Finance Industry Opens To Foreign Investment
  • 18 hours Is Bitcoin Cash Overbought?
  • 19 hours Financial Sector Reports Record Profits
  • 20 hours Iran Bans Crypto Amid Currency Crisis
  • 21 hours Markets On Edge As Treasury Yields Spike
  • 22 hours Silver Pulls Back Following Breakout Week
  • 23 hours Wells Fargo Receives Record-Breaking $1 Billion Fine
  • 1 day Market Sentiment Slips Ahead Of Tech Earning Reports
  • 2 days The Trillion Dollar Space Race
  • 3 days The FANG Stock Investors Should Avoid
  • 4 days Is This The Death Of The iPhone X?
  • 4 days Is London Still The Financial Capital Of The World?
  • 4 days Is Gold Staging A Comeback?
  • 4 days The $200 Million ‘Golden Parachute’ For Rupert Murdoch
  • 4 days Bitcoin’s Breakout Is Not As Bullish As it Seems
  • 4 days Farmers On Edge As Trade War Hits U.S. Grain Shipments
  • 4 days Is Silver Poised For A Massive Break Out?
  • 5 days Meet The Hedge Fund Billionaires Club
The FANG Stock Investors Should Avoid

The FANG Stock Investors Should Avoid

Thanks to a private data…

One Commodity Set To Soar On Russian Sanctions

One Commodity Set To Soar On Russian Sanctions

The recent sanctions on Russia's…

Financial Sector Reports Record Profits

Financial Sector Reports Record Profits

The financial sector had a…

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