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Mining Share, Gold, Stock Market Forecast

Stock-Markets / Financial Markets 2016 May 08, 2016 - 08:51 PM GMT

By: Brad_Gudgeon

Stock-Markets

The stock market, as measured by the S&P 500, reached its 115 trading cycle top the third week of April. The next important cycle low is due on July 5th. The SPX is in process of making a head and shoulders top, and should continue higher into the mid-point of the Mercury Retrograde Cycle around May 11th. My target price is 2080. Friday was the new moon low, but also a top for the precious metals complex.


SPX Daily Bradley Cycles Chart

Conversely, the mining sector should hit a short term bottom on May 11, before eventually bottoming on the May 18-20 expected double bottom. Commercial COT's are record short on gold and gold's 20 week low looks to be due on week 22 from the December 17th bottom. The dollar chart looks like it has formed an Irregular Flat Bull Flag with a strong move up due in the coming 2 weeks.

GLD Daily Chart

The IMP and Rising Wedge on GDX in the charts below show what I expect in the days and weeks ahead.

GDX Daily Rising Wedge 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 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

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