• 855 days Will The ECB Continue To Hike Rates?
  • 855 days Forbes: Aramco Remains Largest Company In The Middle East
  • 857 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,257 days Could Crypto Overtake Traditional Investment?
  • 1,262 days Americans Still Quitting Jobs At Record Pace
  • 1,264 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,267 days Is The Dollar Too Strong?
  • 1,267 days Big Tech Disappoints Investors on Earnings Calls
  • 1,268 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,270 days China Is Quietly Trying To Distance Itself From Russia
  • 1,270 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,274 days Crypto Investors Won Big In 2021
  • 1,274 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,275 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,277 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,278 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,281 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,282 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,282 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,284 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

  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