• 1,237 days Will The ECB Continue To Hike Rates?
  • 1,238 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,239 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,639 days Could Crypto Overtake Traditional Investment?
  • 1,644 days Americans Still Quitting Jobs At Record Pace
  • 1,646 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,649 days Is The Dollar Too Strong?
  • 1,649 days Big Tech Disappoints Investors on Earnings Calls
  • 1,650 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,652 days China Is Quietly Trying To Distance Itself From Russia
  • 1,652 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,656 days Crypto Investors Won Big In 2021
  • 1,656 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,657 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,659 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,660 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,663 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,664 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,664 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,666 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Update on the Stock Market, Miners

I had an alternate I posted a few weeks ago that suggested that the S&P 500 would fall to 1995/96 by June 17, then rally strongly into month's end. Today's market action suggests that the alternate is the likely choice going forward.

SPX Daily Chart
Larger Image

The junior miners "GDXJ" made an irregular bottom three days after the initial bottom last three week cycle go round. This tells us that we likely see a larger throw down this time around below the last low. The whole pattern suggests a broadening top formation in play in GDXJ, GDX and also the SPX.

VanEck Vectors Junior Gold Miners Daily Chart
Larger Image

VanEck Vectors Gold Miners 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