• 2 hours BHP Turns Bullish On EVs
  • 4 hours Investors Turn Bullish On America’s Nuclear Decommissioning Business
  • 20 hours The $90M Inflatable Rabbit Redefining Modern Art
  • 23 hours Huawei’s Fate In The Air
  • 1 day Tesla Slashes Prices Again
  • 1 day The Modern History Of Financial Entropy
  • 2 days Italy’s Central Bank Embraces Sustainable Investing
  • 2 days Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 2 days Researchers Push To Limit Space Mining
  • 2 days Could China Start Dumping U.S. Treasury Bonds?
  • 3 days Is Winter Coming For HBO?
  • 3 days Rise Of EVs Signals Peak Gasoline
  • 4 days Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 4 days Gold Mining Stocks Stuck In Limbo
  • 5 days Executive Order Targets Huawei Over Espionage
  • 5 days Why Now May Be The Best Time Ever To Hold Gold
  • 6 days Fake News Sinks Shares In UK-Based Bank
  • 6 days De Beers To Build $468 Million Diamond Recovery Ship
  • 6 days Moody's: Turkey Faces Possible Credit Downgrade
  • 6 days Tesla's Solar Sales Are Slipping
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

SP500 Down 10% into Early September?

The chart below shows the weekly SPX since late 2008 to the current. According to my calculations, Wave Y of a WXY "Y" of B WAVE terminated at 2168/69 on July 14.  Everything after that has been irregular and part of wave X of "Z" into November 21. Wave X is being subdivided xyz and y of that wave terminated today at 2193/94.

My down side target is near 1970 by Sept 9, with the big wave down "c" of Z from the solar/new moon eclipse top of Sept 1 to the expected ten week low of September 9. After that, a new high around October 17 near 2241 and then down into the November 21 expected low near 1638.

The way things are setting up, we might expect the hardest part of the down wave to occur from November 8 to 21, just after the election!

This coming week looks choppy and down, with a rally on Thursday, but possibly down hard on OPEX.  The 2130's look attainable by Friday.

S&P500 Weekly 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