• 36 mins The New Drug That Could Be Bigger Than Cannabis
  • 7 hours $15/Hour Minimum Wage Might Happen Naturally
  • 1 day Could This Be The Hottest Investment Sector For 2021?
  • 2 days The Single Most Exciting Mental Health Breakthrough Of The Decade?
  • 2 days Money-Laundering Binance Probe Report Adds To Bitcoin Woes
  • 4 days Pipeline Hackers Lose Access To Ransom Funds
  • 4 days Military Coups Are Big Business
  • 5 days Crypto Market Crashes As Tesla Turns Its Back On Bitcoin
  • 6 days Gold Bulls Are Facing An Uphill Battle
  • 7 days Has The Dogecoin Hype Fizzled?
  • 9 days America's Semiconductor Shortage Is Just Getting Started
  • 12 days The EU Begins Backtracking On China Trade
  • 13 days Americans Are Sick Of Unfair Taxation
  • 15 days No Jab, No Job: The New Hardline Policy of U.S. Employers
  • 17 days What’s Included In Biden’s $6 Trillion Economic Plan?
  • 18 days The “Great Car Comeback” Brightens Oil Demand Outlook
  • 19 days The 3 Most Profitable Covid-19 Vaccine Stocks
  • 21 days Beijing Launches Digital Currency To Break AliPay-WeChat Duopoly
  • 22 days The New Economic World Order After Covid-19
  • 26 days 3 Signals To Watch For A Stock Market Correction
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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

Gold to Rally More, Stocks Should Drop

GDX looks to rally hard in a 'c' of "C" wave, likely into Early the 25th. We could see GDX around 24.50. It looks like a bear rally. The jobs report on December 2 could knock the precious metals sector down like it did from November 9-14.

The SPX is running on fumes and should drop at least to the 2162 area by early Friday I would think. Higher highs into next November 30-December 1 look likely and up to around 2208/09. My target for next week of 2203 was hit today.

The stock market 40 week low (November 4 on the cash market and November 9 on the futures market) marked an X wave of a larger topping process. It is very odd for a 40 week low to be so shallow, but I have resigned to the fact that it has already come. By next week, we may see the Wave Y top with Z to come to the down side.

Wave X started on July 15th and ended on September 12th. Wave Y began on September 12th and should end next week. Normally, Wave Z of a topping pattern like this comes swiftly, but may take longer than either Wave X or Y. The next possible 10 week low would be due in early/mid January and then the 20 week low in early to late March. This coming low should be a much larger one than recent ones.

S&P500 Daily Chart
Larger Image

S&P500 Hourly Chart
Larger Image

GDX Daily Chart
Larger Image

I have a current special on my website that will help you take advantage of the SPX, GDX and Volatility, all for the price of one subscription.

 


Go to www.blustarmarkettimer.info for more information<.
We are now on LinkedIn, Facebook, & Twitter

 

Back to homepage

Leave a comment

Leave a comment