• 6 hours Welcome To The Used Car Bonanza
  • 1 day The Year Of The Retail Investor Keeps Getting Bigger
  • 2 days Airlines Could Recover, But Crew Remain Elusive
  • 2 days Meet The Man Behind The World's Most Exciting Oil Play
  • 3 days Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 5 days Hawkish Fed Sends Gold Prices Crashing
  • 6 days Bezos Is Heading To Space This Sunday
  • 10 days El Salvador’s Surprise Bitcoin Move
  • 13 days Markets Unfazed As Inflation Hits 13-Year High
  • 13 days How the Token Economy is Disrupting Financial Markets
  • 15 days FBI Investigating 100 Types Of Ransomware Attacks
  • 17 days Fed Ends Corporate Credit Emergency Lending Program
  • 19 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 21 days The Real Reason Your 401k Has Been Lagging
  • 21 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 23 days The Market Is Ripe For Another GameStop Saga
  • 26 days Senate Grills Big Banks Over Pandemic Opportunism
  • 28 days Cannabis Has A Major Cash Problem
  • 28 days Ransomware Netted Criminals $350M In 2020 Alone
  • 29 days Russia Is Taking On Google
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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

A Stock Market Dip in the Offing?

Right now, the coming dip could be a little scary, but shouldn’t amount to much, maybe around 4%. My guess is the first couple of days next week should see a sharp drop, but a buy the dip mentally and seasonal strength should prevail for now. The astros were ripe for a top around February 27-March 2. We have another even more complex period coming up March 31-April 15.  March 31 could be a top and then another secondary bottom around April 11-12 would be ideal. A sharp drop next week would produce a need for a momentum failure retest by around early/mid April.

S&P500 Daily Chart
Larger Image

GDX had us watching for a top on Tuesday and buying the dip late in the day (21.27) and early Wednesday. I had a target for Thursday around 23.42 and we tagged 23.45. My subs made a huge 23%+ on NUGT and even bigger on GDX calls. I am currently neutral on GDX, but bet higher highs are soon around the corner.

 


The subscription website is http://www.blustarmarkettimer.info

 

Back to homepage

Leave a comment

Leave a comment