• 2 days Legacy Automakers See Massive Spike In Sales
  • 3 days Tesla's Biggest Competitor Is Going Cobalt-Free
  • 4 days Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan
  • 6 days The Mafia Has Expanded Its Influencer Under COVID-19
  • 7 days How Fintech Will Get Skeptics Into Crypto
  • 8 days Monday Markets Rise On Stellar Jobs Report
  • 11 days Not Even Bribery Allegations Can Crush Cannabis Boom
  • 15 days Canada May Become Leader In Booming Battery Market
  • 16 days Nearly 42% Of All Amazon Reviews Are Fake
  • 17 days Kidnapping Is Big Business In Nigeria
  • 18 days COVID Fraud Amounts To Nearly $570M
  • 20 days Art Is Now An Algorithm
  • 22 days TikTok Threatens America, Tesla Threatens China
  • 22 days Small-Cap Energy Sectors With Big Upside
  • 25 days Coinbase Valued At $68 Billion Ahead Of IPO
  • 28 days 3 Stocks To Watch Amid AstraZeneca Covid Vaccine Snafu
  • 29 days Get Ready For First Tax Hike Since 1993
  • 32 days Tech Majors Bet Big On Clean Energy
  • 33 days Is This The Next Amazon Of Used Cars?
  • 34 days First Ever Tweet Attracts $2.5M Bid On Blockchain Platform
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

The Long Awaited 4% Pullback May Be Close

Last time I wrote, I said that a 10-week bottom was close and could come as late January 31. Venus square Saturn (today) has a variance of +/- 2 TD's, the ten-week low can come as late as January 31 and the 16 TD low can come as late as +4 or 20 TD's (January 31).

The odds are high in my book for a big down draft on Monday into Tuesday next week. My target is 2205 on the S&P 500 (we'll see) Tuesday. There are positive astros for a peak on Feb 10 with Mercury sextile Venus. If we drop hard over the next 2 trading days, the pattern would suggest a strong rebound rally to new highs by then, likely somewhere in the 2310's.

There is the possibility we see S&P 500 1991/92 by the third week of March, or a 14% drop. I was thinking that early on, doubted it, now I again think it is possible.

Right now, the sentiment is out the roof positive (bullish), which makes me a very short term bear. I have some negative non-confirmations on a lot of my indicators. Thursday sported an evening star. Any pull back next week should be bought for one final, strong rally, IMO (at least in this phase of the market).

S&P500 Daily Chart
Larger Image

My subs are heavily short right now in SPXS, UVXY and SPY puts, getting ready to buy the dip.

 


Subscription Website: www.blustarmarket.info

 

Back to homepage

Leave a comment

Leave a comment