• 705 days Will The ECB Continue To Hike Rates?
  • 705 days Forbes: Aramco Remains Largest Company In The Middle East
  • 707 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,107 days Could Crypto Overtake Traditional Investment?
  • 1,112 days Americans Still Quitting Jobs At Record Pace
  • 1,114 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,117 days Is The Dollar Too Strong?
  • 1,117 days Big Tech Disappoints Investors on Earnings Calls
  • 1,118 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,120 days China Is Quietly Trying To Distance Itself From Russia
  • 1,120 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,124 days Crypto Investors Won Big In 2021
  • 1,124 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,125 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,127 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,128 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,131 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,132 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,132 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,134 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  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