• 348 days Will The ECB Continue To Hike Rates?
  • 349 days Forbes: Aramco Remains Largest Company In The Middle East
  • 350 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 750 days Could Crypto Overtake Traditional Investment?
  • 755 days Americans Still Quitting Jobs At Record Pace
  • 757 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 760 days Is The Dollar Too Strong?
  • 760 days Big Tech Disappoints Investors on Earnings Calls
  • 761 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 763 days China Is Quietly Trying To Distance Itself From Russia
  • 763 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 767 days Crypto Investors Won Big In 2021
  • 767 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 768 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 770 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 771 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 774 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 775 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 775 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 777 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…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Stock Market Topping, Gold Looks Lower

The stock market looks like it is making a distribution top into the FED meeting. We may see a small pull back into late week and then higher prices into the 14th. We could see a sharp drop into the 5 week cycle low due around the 19th of December. Overall, the market should be lower into March/April 2017 (Minor Wave Wave X of Intermediate Wave Z of Primary Wave 4) next year due to a FED rate hike.

I believe from top to bottom, 14% could be taken out of the market into the Spring. The recent pattern begs for a summer top and more selling into the fall of 2017 that could be a lot worse than the one in the spring. The final wave up before the BIG CRASH should take most or all of 2018 to accomplish. A lot of experts believe the crash will come sooner than that, but the wave count begs to differ (a word to the wise: start taking advantage of your financial and prepping affairs before this coming market crash hits you and your family like a ton of bricks, because it will catch the majority of Americans by complete surprise).

Gold stocks still have room to fall further. The pattern is bearish. A move down to GDX 16.50/17.00 could happen after the FED meeting along with the stock market down to 2150 SPX or so.

S&P500 Daily Chart
Larger Image

GDX 2-Hour Chart
Larger Image

 


Annual subscriptions to SPX3 or GDX 3 receive a FREE year's subscription to "Countdown" (our 'Prepper' newsletter) at www.eaglesoveramerica.com
Don't put off getting ready for the worst financial meltdown since 1929-32!
Go to www.blustarmarkettimer.info for more information
We are now on LinkedIn, Facebook, & Twitter

 

Back to homepage

Leave a comment

Leave a comment