• 785 days Will The ECB Continue To Hike Rates?
  • 785 days Forbes: Aramco Remains Largest Company In The Middle East
  • 787 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,187 days Could Crypto Overtake Traditional Investment?
  • 1,192 days Americans Still Quitting Jobs At Record Pace
  • 1,194 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,197 days Is The Dollar Too Strong?
  • 1,197 days Big Tech Disappoints Investors on Earnings Calls
  • 1,198 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,199 days China Is Quietly Trying To Distance Itself From Russia
  • 1,200 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,204 days Crypto Investors Won Big In 2021
  • 1,204 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,205 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,207 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,208 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,211 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,212 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,212 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,214 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Stock Market Has Topped; GDX Continues Down

The signs of a stock market top came on July 22 when the SPX made a truncated pseudo 5th wave failure at 2175. There were many astro/cyclical signs pointing to a July 19/20th top. My thinking regarding a continuation higher for the stock market is now not warranted.

GDX is about to break an important uptrend line and the technical/cyclical read is down hard next week to near $25 +/- .20. Gold and silver could make a final bottom in early August.

July 26th could have both GDX (25.00 +/-?) and the SPX falling hard (2100?). July 26th is located exactly seven calendar days past the full moon, last time falling exactly on the stock market low of June 27. On July 29th, Uranus goes Stationary/Retrograde, suggesting a major turning point for the markets +/- 2 weeks. We may have already seen that for the stock market and close to seeing that for GDX and the precious metals.

SPX Daily Chart
Larger Image

SPX Daily Chart
Larger Image

The stock market could be in a real choppy zone for weeks as we approach October and the election. The swings could be exaggerated from the norm, with wild swings in both directions.

 


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