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Stock Market Quick Airpocket Ahead, Gold Miners Look Good

Stock-Markets / Stock Market 2017 Jun 20, 2017 - 01:01 PM GMT

By: Brad_Gudgeon

Stock-Markets

The stock market is due for a sudden air pocket, likely from Tuesday to Thursday this week. My downside target is 2398 . We are due for the 10 week low from April 13, 2017.  The SPX is making an irregular abc type (y) wave top that is not being confirmed by stochastics or the MACD daily. Last time we saw this was May 16-17, 2017 on the 5 and 7 week low. The pattern is bullish once resolved.  We should see a final top on or near July 5-7.


Astro-wise, the Sun, Mercury and Mars conjunct on June 21 in Cancer, with the moon in Gemini until the 22nd. June 21 should bear the brunt of the downside. We have two Bradley turns due June 21/22.  Last time we saw this same combo was May 18/19. The latest the bottom should occur would be June 23.

Higher prices are in the cards into either late June or early July on the 43/44 week highs and we are near a 38 TD top (thanks to Yani from London, England for showing these to me). These agree with my other cycle work as well.

GDX is sporting a very bullish xyz pattern bull flag.  All thing being equal, we might expect GDX go up into the high 24.00 area near 24.75 no later than late June or early July. This appears to be an Elliott bear rally, so beware.  I think much lower prices are coming.

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 atwww.blustarmarkettimer.com

Copyright 2017, 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

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