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Stock Market Long Awaited 4% Pullback May Be Close

Stock-Markets / Stock Market 2017 Jan 28, 2017 - 07:05 PM GMT

By: Brad_Gudgeon

Stock-Markets

Last time I wrote, I said that a 10-week bottom was close and could come as late January 31.  Venus square Saturn (today) has a variance of 2 TD’s, the ten-week low can come as late as January 31 and the 16 TD low can come as late as +4 or 20 TD’s (January 31).

The odds are high in my book for a big down draft on Monday into Tuesday next week. My target is 2205 on the S&P 500 (we’ll see) Tuesday. There are positive astros for a peak on Feb 10 with Mercury sextile Venus.  If we drop hard over the next 2 trading days, the pattern would suggest a strong rebound rally to new highs by then, likely somewhere in the 2310’s.


There is the possibility we see S&P 500 1991/92 by the third week of March, or a 14% drop.  I was thinking that early on, doubted it, now I again think it is possible.

Right now, the sentiment is out the roof positive (bullish), which makes me a very short term bear.  I have some negative non-confirmations on a lot of my indicators. Thursday sported an evening star. Any pull back next week should be bought for one final, strong rally, IMO (at least in this phase of the market).

My subs are heavily short right now in SPXS, UVXY and SPY puts, getting ready to buy the dip.
My subscription website is: www.blustarmarkettimer.info

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

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