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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: Likely Pullback into Friday

I tracked the 4/8 TD lows and they point to 3:45 PM EDT Friday for the expected low±. Friday is the 32 TD low +1. It is also close enough to the 35 TD low due Tuesday next week (35-2). This would then thrust the market up for 4 to 5 TD's based on the minimum normal out of a 16/32 TD low and that is an August 18th or 19th top (August 18 is the full moon/lunar eclipse and Bradley turn/August 19th is OPEX). August 19th is 8 TD's from the August 9 top. August 18th is the exact 66-week top from the May 20/21, 2015 top. IF all goes according to my perceptions, we should see THE top for the year in the stock market next week.

Ideal down side is 2120/21 ± SPX for Friday and upside SPX 2217/18 ± for Thursday/Friday next week. This would call for a SEPT 8/9 low in the low 1930's or TD 51/52 from June 27 or TD 50+1 or 2 of the ideal 10/30 week low based on the next moon in Sagittarius lows.

The moon does not leave Sagittarius until after Friday setting up buying pressure into the following week as the moon enters Capricorn. The moon conjuncts both Saturn Retrograde (Rx) over the next two days in Sagittarius plus it squares Venus, Neptune and Mercury as well as the position of the coming solar eclipse on September 1.

We also have negative astros over the weekend that could affect Friday's action and that is Venus (rules money) square Saturn (contraction) on the 13th (while Saturn turns Stationary/Direct), and Venus (money) opposite Neptune (oil) on the 14th. Mars leaves the Rx zone on August 22.

It is interesting that we have a 45 calendar day turn due on August 13th (last time seen on June 28th). The last Saturn square Neptune pass is due on September 10th.

We have Venus trine Pluto tonight, which could also mean exhaustion of upside pressure on the open Thursday.

GDX looks like it could fall below $30 by Friday (Monday latest), creating a bull flag and higher prices at least into the $32’s. Good news for gold bugs (at least for now).

Playing the market is a lot like playing chess, you have to figure out what the possible moves are and position yourself accordingly.

 


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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