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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…

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Stock Market Headed for 10% Decline

All the cycles that I follow are topping for the stock market. In fact, ideally, the SPX should top on Monday 8/8 near 2189. I believe we see 1972 by September 1.

The week ahead should see weakness after initial strength.  A rally on Thursday should be the “b” wave of an a-b-c type drop into Friday. The expected large drop on Friday could be a monetary issue as Venus squares Saturn on the 13th as Saturn turns stationary/direct. Venus rules money. Saturn also conjuncts the moon Friday (the moon in Sagittarius is often times the low of the cycle); is also an 8 TD low from the 5 week low last week on August 2.

I believe the gold sector topped on the 2nd of August as Mars entered the sign of Sagittarius. It looks now like we are headed for a month end low near the August 30th Mercury Stationary/Retrograde date. The dates August 17-19 should see a large drop for GDX as well as the stock market. August 18th is a full moon and lunar eclipse, as well as Bradley Turn.  The 19th is a 2.5 week low for the SPX.

Mars looks war-like as we get closer to the 24th, 26th and 29th of August.  August 25-September 1 should see a large drop in the stock market.

The chart below explains the stock market forecast in detail:

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

 

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