• 7 hours Who Will Pay For The $40 Trillion Energy Transition?
  • 1 day Why Chinese Rare Earth Prices Are Soaring
  • 2 days 2021 Could Be A Huge Year For Chinese Stocks
  • 3 days Shadowy Brokers Target Easy TikTok Money In New Scheme
  • 4 days Cannabis Sales Are Soaring In The United States
  • 5 days Biden Will Be A Boon For Solar Stocks
  • 6 days The Shroom Boom Is Here To Stay
  • 9 days The Gold Rally Has Finally Run Out Of Steam
  • 9 days Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 12 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 12 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 14 days Why 12 Million American Millionaires Isn’t Good News
  • 15 days Big Oil Is Paying The Price For Investing In Renewables
  • 16 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 17 days Did Amazon Just Democratize Prescription Drugs?
  • 18 days The Private Space Race Just Got Very Real
  • 20 days Short Sellers Are Willing Big In This Turbulent Market
  • 21 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 22 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 23 days China’s Big Tech Takes A Hit As Regulators Crack Down
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…

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