• 2 days Silver Stocks Have Been Decimated In The Coronavirus Sell-Off
  • 2 days How Blockchain Tech Could Make Mergers And Acquisitions More Efficient
  • 3 days America’s Shortage Of This Metal Keeps Trump Up At Night
  • 3 days Bidet Bonanza: Defying The Toilet Paper Shortage
  • 4 days U.S. Auto Sales Fall By 75%
  • 4 days Violating Quarantine? Big Brother Is Watching
  • 5 days Does Gold Still Have Some Room To Run?
  • 5 days Major Acquisition Gives The World’s First Green Ride-Share Another Edge
  • 5 days U.S. Pushes For Digital Currency For Immediate Stimulus
  • 6 days The Impossible Challenges Created By Growing Population
  • 6 days Gold Skyrockets After Fed Pledges "Unlimited" Cash To Boost Economy
  • 6 days World’s Richest Lose $1 Trillion In Stock Market Rout
  • 7 days Gas Stations Shut Down In Venezuela As Coronavirus Crisis Intensifies
  • 7 days The Best And Worse Case Scenario For The U.S. Stock Market
  • 7 days 3 Industries Soaring During The Coronavirus Crisis
  • 8 days The Key To Commercial Hydrogen
  • 8 days Gold Still Beating Much Of The Market Despite Sell-Off
  • 9 days Gold Miners Struggle With COVID-19 Fallout
  • 10 days The Dollar Reigns Supreme In Times Of Crisis
  • 10 days The Most Exciting Green Startups To Watch In 2020
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