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Stock Market Update

The stock market rallied on Monday out of the 8 TD low on Friday. The 8 TD low is acting more like a 4 TD low. The dominant has once again become sub-dominant. The market looks as though it wants to curl over this week into Thursday. Downside possibilities are the low to mid 2130's to as low as the 2102/07 area SPX.

SPX 2-Hour Chart
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Dow Industrials Hourly Chart
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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.

 


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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

 

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