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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…

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Short, Sharp Pull Back in Stock Market?

A short, sharp in the stock market may be in the offing over the next couple of days. I believe that last Friday’s top in the SPX signaled a Y wave top and now we should see Z of "sub-minuette wave 4". Our subs made 11.7% in 5 days buying the reverse volatility ETF SVXY. Most market gurus were gloomy going into the New Year, but we went the other way. A final wave 5 should take us just over 2310 by or around January 23.

Late January into late March or early April could see a 14+% pull back before rallying strongly into September 2017 to new highs (2365?). September ’17 to November '18 could see a nasty bear market. I still believe the final 5th wave top won’t occur until early 2020. 2020-2022 does not look good for the stock market.

S&P500 2-Day Chart
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S&P500 2-Hour Chart
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