• 11 hours Walmart Reaches Out To Chilean Government For Protection
  • 15 hours The Most Exciting Gold Find Of The Decade
  • 17 hours Mining Boom Sparks Deforestation Concerns
  • 1 day The Cannabis Culling Has Wall Street Disappointed
  • 2 days Vigilante Offers $100,000 Bounty To Hack Banks
  • 2 days The Dairy Industry Is Dying
  • 3 days The Most Impressive Electric Vehicle Of The Year
  • 4 days Gold Miners Are Having A Stellar Second Half
  • 5 days How 3D Printing Is Turning Each And Every Industry On Its Head
  • 5 days Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 5 days Gamblers Are Betting Big On Trump’s Impeachment
  • 6 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 6 days Will Bezos Buy The Seattle Seahawks?
  • 7 days 6 Tech Trends Transforming The Travel Industry
  • 7 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 8 days Trump Prepares For Another Key Tariff Decision
  • 8 days The Free Money Bubble Is About To Burst
  • 8 days The Crushing Reality Of Poverty In America
  • 9 days Should You Buy Into The World’s Largest IPO?
  • 9 days The Infinite Possibilities Of Cosmic Energy
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

GDX Adjusted Cycle, Projection and Chart

GDX and gold look to make their low around June 24, not June 17th as I had reported earlier. The cycles are following gold's and not GDX's cycle. June 2nd is a cycle change point (either a low or high) and happens to be the 16 TD low for gold.

The chart below shows GDX's wave count ending an (x) of B wave on June 2 near 21.81 and rallying to 25.42 by June 8th to finish (y) of B. The terminus of Wave C should occur on June 24 near 17.66 for GDX.

IF GDX, gold and the stock market follow last year's 9-month pattern (running 10 months) the stock market may not see its next important low until Monday, July 25, somewhat similar to the August 24, 2015 crash.

GDX Hourly 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