• 6 hours 3 Restaurant Stocks In Full Recovery Mode
  • 14 hours Bitcoin Is Driven By Testosterone
  • 5 days Quantum Computing Is The Newest Megatrend In Silicon Valley
  • 7 days How To Invest In The Cybersecurity Boom
  • 8 days Investors Are Patient With Unprofitable Giants
  • 10 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 12 days 5 Stocks To Keep A Close Eye On This Year
  • 14 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 14 days Central America Is Ready For The Bitcoin Hustle
  • 16 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 17 days Top Performing Stocks As Inflation Fears Grow
  • 18 days US Airline Stocks Take A Beating On New EU Restrictions
  • 19 days This IPO Could Open Sustainable Fashion Floodgates
  • 20 days Crypto Crime Nets Another $2B Fraudster
  • 22 days This Week’s Hottest Meme Stocks
  • 24 days Why World Markets Should Be Watching Germany Closely
  • 26 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 28 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 30 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 30 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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

Big Gold Rally This Week, Stocks Down?

Last week, I wrote that I believed GDX would make one final blow-off top into or around September 1. I also wrote that the stock market looked too hard to trade at this point. When the SPX dropped to below 2161 on Friday we went long via SPXL and SVXY. Today (8/29) we sold for some nice profits (+2.8% and +5.5%).

I believe the SPX could drop all the way to 2112/13 by September 1 and GDX could hit my 35.47 target on the same day. The charts below show what I believe could happen. As always, please keep in mind that these charts are forecasts over the next week and may be subject to change.

GDX Daily Chart
Larger Image

SPX Daily Chart
Larger Image

 


I'm offering a special 2 for 1 subscription offer good until the end of August. See my website for details.

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