• 148 days Could Crypto Overtake Traditional Investment?
  • 152 days Americans Still Quitting Jobs At Record Pace
  • 154 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 157 days Is The Dollar Too Strong?
  • 158 days Big Tech Disappoints Investors on Earnings Calls
  • 159 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 160 days China Is Quietly Trying To Distance Itself From Russia
  • 161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 165 days Crypto Investors Won Big In 2021
  • 165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 166 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 168 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 172 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 173 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 175 days Are NFTs About To Take Over Gaming?
  • 175 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 178 days What’s Causing Inflation In The United States?
  • 179 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Stock Market Correction Near

According to my read, the stock market as measured by the S&P 500 is about to enter roughly a 12 to 13% correction. A few weeks ago, I wrote about the dates July 5th and November 29th as being possible important cycle lows for the stock market this year.

SPX Daily Chart
Larger Image

The miners topped out short term on Gann cycle 16+1 Friday, June 10th. The next cycle low is due on June 20th. The 9/10 and 18/20 week cycles suggest that the miners will generally be on an upswing into early July, with a minor a-b-c pull back over the next week or so. GDX has TLC lows due June 22, 23 and 24, which will likely be secondary. The end of the month into early July should see some good upside action. July looks corrective overall.

GDX 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