Stock Market S&P 500 Down 10% into Early September?
Stock-Markets / Stock Markets 2016 Aug 16, 2016 - 09:39 AM GMTThe chart below shows the weekly SPX since late 2008 to the current. According to my calculations, Wave Y of a WXY “Y” of B WAVE terminated at 2168/69 on July 14. Everything after that has been irregular and part of wave X of “Z” into November 21. Wave X is being subdivided xyz and y of that wave terminated today at 2193/94.
My down side target is near 1970 by Sept 9, with the big wave down “c”of Z from the solar/new moon eclipse top of Sept 1 to the expected ten week low of September 9. After that, a new high around October 17 near 2241 and then down into the November 21 expected low near 1638.
The way things are setting up, we might expect the hardest part of the down wave to occur from November 8 to 21, just after the election!
This coming week looks choppy and down, with a rally on Thursday, but possibly down hard on OPEX. The 2130’s look attainable by Friday.
Brad Gudgeon
Editor of The BluStar Market Timer
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.
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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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