"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 31 mins China Says It Doesn’t Fear Trade War
  • 16 hours Twitter CEO: The World Will Have A Single Currency
  • 17 hours Asian Currency Correction Could Signal Looming Crisis
  • 18 hours Best Buy Drops Telecom Giant Over National Security Threat
  • 19 hours The Pros And Cons Of The Federal Interest Rate Hike
  • 21 hours Good News For Gold Bulls Despite Interest Rate Hike
  • 22 hours Trump Hits China With $50 Billion In Tariffs
  • 23 hours Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 1 day Stocks Pull Back Following Interest Rate Hike
  • 2 days Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 2 days Elon Musk’s $2.6 Billion Tesla Challenge
  • 2 days Tech Giants Could Be First Victims Of U.S. Trade War
  • 2 days Dow Gains Despite Fed’s Rate Hike
  • 2 days The Biggest Threat To Chinese Oil Futures
  • 2 days Spending Bill Could Cause U.S. Debt To Soar To 99% Of GDP
  • 2 days Precious Metals Slide Ahead Of Fed’s Interest Rate Decision
  • 2 days China’s Soft Power Grab May Be Bad News For Emerging Economies
  • 3 days The Secretive Wall Street Firm Betting On Bitcoin
  • 3 days ‘Data Is King’: The Oil Industry’s Next Most Valuable Resource
  • 3 days Google Invests $300 Million To Combat Fake News
The Pros And Cons Of The Federal Interest Rate Hike

The Pros And Cons Of The Federal Interest Rate Hike

The United States Federal Reserve…

Tesla Tumbles As Investors Lose Patience

Tesla Tumbles As Investors Lose Patience

As Tesla’s Model 3 looks…

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…

More Info

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

Sign Up For The Safehaven Newsletter