According to my read, the stock market as measured by the S&P 500 is about to enter roughly a 12 to 13% correction. A few weeks ago, I wrote about the dates July 5th and November 29th as being possible important cycle lows for the stock market this year.

SPX Daily Chart

The miners topped out short term on Gann cycle 16+1 Friday, June 10th. The next cycle low is due on June 20th. The 9/10 and 18/20 week cycles suggest that the miners will generally be on an upswing into early July, with a minor a-b-c pull back over the next week or so. GDX has TLC lows due June 22, 23 and 24, which will likely be secondary. The end of the month into early July should see some good upside action. July looks corrective overall.

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 2016, 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.

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