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Elliott Wave Trading

Stock Market Update

Stock-Markets / Stock Markets 2016 Mar 10, 2016 - 10:50 AM GMT

By: Brad_Gudgeon

Stock-Markets

Over the weekend, my thinking was we had higher prices ahead of us.  I actually ignored the astrological reversal mid-zone of the Sun translating Neptune, Saturn and Jupiter on March 4th.  My logic was the powerful, advancing MACD and momentum indicators.  My main reservation was the lack of early volume.


We have now broken down through a rising wedge much like we did back in early November 2015; as well the 4 hour MACD and current action is very similar to that time frame. If we follow the same pattern, we should be down into the low 1700’s SPX minimum by May 2016.

Gold and GDX could run sideways into or around FED day March 16, but I believe it is doomed to go much lower. We shorted GDX via DUST last week and Monday and covered by selling DUST early today on GDX weakness expecting a bounce, which we got.

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 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.

Brad Gudgeon Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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