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Elliott Wave Trading

Stock Market Short, Sharp Pull Back?

Stock-Markets / Stock Market 2017 Jan 11, 2017 - 04:02 AM GMT

By: Brad_Gudgeon

Stock-Markets

A short, sharp in the stock market may be in the offing over the next couple of days. I believe that last Friday’s top in the SPX signaled a Y wave top and now we should see Z of "sub-minuette wave 4". Our subs made 11.7% in 5 days buying the reverse volatility ETF SVXY. Most market gurus were gloomy going into the New Year, but we went the other way. A final wave 5 should take us just over 2310 by or around January 23.


Late January into late March or early April could see a 14+% pull back before rallying strongly into September 2017 to new highs (2365?). September ’17 to November '18 could see a nasty bear market. I still believe the final n5th wave top won’t occur until early 2020. 2020-2022 does not look good for the stock market.

S&P500 2-Day Chart

S&P500 2-Hour 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.

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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