• 2 hours Dow Scrambles To Avoid Fifth Straight Weekly Loss
  • 20 hours Is This The World’s First Truly Democratic Stock Exchange?
  • 23 hours India’s Wealthiest Set To Hold $23 Trillion By 2028
  • 1 day First Quarter Profits Slip For World's Top Oil Companies
  • 1 day The Yuan May Be China's Biggest Weakness
  • 2 days Hedge Funds Having A Banner Year
  • 2 days Disney Heiress Asks “Is There Such A Thing As Too Much?”
  • 2 days BHP Turns Bullish On EVs
  • 2 days Investors Turn Bullish On America’s Nuclear Decommissioning Business
  • 3 days The $90M Inflatable Rabbit Redefining Modern Art
  • 3 days Huawei’s Fate In The Air
  • 3 days Tesla Slashes Prices Again
  • 3 days The Modern History Of Financial Entropy
  • 4 days Italy’s Central Bank Embraces Sustainable Investing
  • 4 days Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 4 days Researchers Push To Limit Space Mining
  • 4 days Could China Start Dumping U.S. Treasury Bonds?
  • 5 days Is Winter Coming For HBO?
  • 5 days Rise Of EVs Signals Peak Gasoline
  • 6 days Jeff Bezos Doubles Down On Space Colonization Ambitions
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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

Choppy, Toppy Market into Early October

Last week, we saw the stock market whipsaw: up one day and down the next. That pattern should continue into October 4th with another down day Monday. Buy the dip! A cycle top is due on Oct 4. The whole pattern smacks of a sideways 'b' wave bear flag that should give way to a nice 'c' wave drop into week's end.

I believe we finally see that false break of the rising wedge I've been talking about. A test of SPX 2099/2100 looks likely by Oct 7. October 6th should be a huge down day, somewhat similar to September 9th. What a messy strewn out 'Z' wave we've had (see chart below).

The expected October 7th bottom should yield the final "C" wave thrust back up into the rising wedge, perhaps as high as 1995-2110 or somewhere in between. 2220 would surprise me. October's expected top on October 14th should be the high for the year. A post election surprise should drop the markets markedly into around November 18-21.

Gold made a new low 2 trading days past the GDX low last week.  Silver tried to rally, but stalled. The recent pattern suggests a strong rally early next week, but like the stock market perhaps doomed to fail to make a higher high than the last high.

SPX Daily Chart
Larger Image

GDX Hourly Chart
Larger Image

 


We now offer free auto trading. BluStar subscribers now have access to free auto trading via Auto Shares.

We are now offering a 1 week free trial.

Another thing I wish to mention: please don't trade this or any other forecast verbatim without getting proper updates from the author. Tracking the stock market is much like tracking the weather: you need to have regular updates. Things can and do change.

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