• 21 mins SEC Crackdown On ICOs Leads To New Lawsuits
  • 2 hours What’s Behind China’s Tightening Grip On Global Gold Markets?
  • 18 hours Europe’s “Link Tax” Could Kill Its Internet Sector
  • 21 hours Tech Crunch Drags Markets Lower
  • 1 day The Intrinsic Value Of Gold-Backed Cryptos
  • 1 day Stocks Slide Sideways As Uncertainty Mounts
  • 2 days The Real Estate Reality Of America’s New Boom Cities
  • 3 days Most Americans Don’t Have Their Dream Job Just Yet
  • 4 days Buffett Bets Big On Banking Stocks
  • 4 days Gold Miners Face More Bearish Pressure
  • 5 days NATO Hits Up Startups For Tech Evolution
  • 5 days Italy’s Budget Defiance Sends Bond Yields Soaring
  • 5 days Iran Turns To Crypto As SWIFT Cuts Off Central Bank
  • 5 days Chinese Gold Demand On The Rise
  • 6 days IMF Calls On Central Banks To Consider State-Backed Crypto
  • 6 days Why Are Wall Street Banks Fighting Over Gamers?
  • 6 days An Army Of ‘Verified’ Twitter Accounts Is Promoting Bitcoin Scams
  • 6 days New A.I. Virtual Assistant Gives Traders An Edge
  • 7 days How To Play The 5G Revolution
  • 7 days China’s “Singles’ Day” Sees $31 Billion In Sales
Saudi Stocks Plummet As Foreign Investors Bail

Saudi Stocks Plummet As Foreign Investors Bail

The death of journalist Jamal…

EU Weighs New Payment System With Iran To Skirt U.S. Sanctions

EU Weighs New Payment System With Iran To Skirt U.S. Sanctions

Demonstrating its eagerness to continue…

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

Stock Market Down Monday?

The SPX could take a plunge Monday, but the set up is there for a nice rebound into October 14th. I think we finally get my False Break of the Rising Wedge and the rebound that takes us above 2200 SPX. October 14th should be the high for the year.

GDX and the gold complex are due for a nice rebound rally, but much damage has been done. A move back into the mid 26.00 area for GDX is the minimum expectation for an October 18 top. It may take a couple of more days to get kick started as the buyers are hesitant and selling into rallies. There is also a solid green candle on the daily chart that bothers me in the very short term.

Any selling in the stock market on a gap down Monday, with a concurrent gap up in the gold futures, will likely be a drag on the PM's into Tuesday.

We are setting up for a nice post election sell-off:

SPX Daily Chart
Larger Image

GDX Daily 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 2 day half-price sale. Offer ends October 11, 2016.

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. With the changes, come strategy changes.

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