The planets are coming together for the perfect storm on September 17th. First we have Mercury Retrograde, which often occurs at a top for the precious metals sector (and even the stock market). Then we have Jupiter opposing Neptune while Saturn enters into the sign of Sagittarius. Exaggerated hysteria or panic would be the best way to explain this astrological set up. My best guess is: the FED won't raise rates this time, but will hint strongly for the need to do so very soon (China may have nipped a September hike in the bud by devaluing the yuan). Everyone is expecting a retest of the August 24-25 lows anyway, so this is the perfect excuse to take it down. It also fits the pattern of an X wave of [B] bottom within an IMP (Irregular Megaphone Pattern -- discussed a few weeks ago). The big question is: will we fall just below the SPX cash price of 1867 near 1850 or below the SPY or S&P 500 futures price set the morning of August 24, 2015?

As I said in my last article, I believed the stock market was topping and gold bottoming. Gold and the gold stock sector (GDX hit a new low Friday) look to rally strongly onto the FED announcement. GDX made a nice reversal hammer. As it looks, the set up is there to rally strongly so they can knock it down again. By September 21-22 both sectors (stock market first and then gold stocks with gold) will likely be bottoming and a strong rally should ensue into early October. This will be the set up for the final C Wave down in the stock market to around 1700 by October 12th, in my opinion.

Below are three charts with e-wave, cycles and astro notations for the SPX, GDX and GLD. In times like these, often times, the Gann 8 TD tops run an 8,7,6 trading day topping pattern. This is due to the excessive chop after a huge plunge like we just had.

S&P500 Hourly Chart

GLD Daily Chart

GDX Daily Chart

Brad Gudgeon

Editor of The BluStar Market Timer

www.blustarmarkettimer.info

The BluStar Market Timer was rated #1 in the world by Timer Trac in 2014, competing with over 1600 market timers. This occurred despite what the author considered a very difficult year for him. Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The website is www.blustarmarkettimer.info To view the details more clearly, you may visit our free chart look at www.blustarcharts.weebly.com Copyright 2015. All Rights Reserved

Copyright 2015, BluStar Market Timer. All rights reserved.
Disclaimer: The above information is not intended as investment advice. Market timers can and do make mistakes. The above analysis is believed to be reliable, but we cannot be responsible for losses should they occur as a result of using this information. This article is intended for educational purposes only. Past performance is never a guarantee of future performance.

Brad Gudgeon Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.