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Stock Market, Gold Miner Update

By: Brad Gudgeon | Sunday, April 16, 2017

We entered into a Mercury Retrograde period on April 9, which I have said before is like trading in the Bermuda Triangle, difficult at best! Typically, this usually portends a turn in the precious metals market within about 2-4 trading days. As far as the stock market is concerned, the normal indicators tend not to work as well.

My original thinking was, we would see more stock market selling after Easter than before. Next week (4/21) has Venus squaring Saturn for the second time in weeks. Venus turned direct yesterday. We have a Bradley turn due on 4/19 +/- and another on the new moon 4/26 (which should be near a 3 week top). The 8 TD cycle top is Tuesday next week and we have another astro turn based on Saturn on the 17th (Monday). Typically, 8 TD tops turn back down at least 2 trading days. I have a TLC low due Monday, so a rally back up from Monday is expected into Tuesday, perhaps near SPX 2343 (the low Monday? 2321-24ish).

Pluto turns retrograde on the 20th. Pluto rules debt, so that should be on the minds of politicians this week (after Tuesday). Gold could easily be topping on the 20 week cycle with fits and starts next week, but rolling over likely. Mars is still aspected strongly (as I said a few weeks ago, Trump will likely be tested in the coming weeks on the war stage), but the read on gold is saying to me we likely start dropping into mid May. Mid May to late June looks higher to me, but overall down for the year as a whole on gold. We'll see.

The expected stock market 20 week low looks like a basic non-event to me, which to me means this top in early March may not be bested for some time or is a part of a larger topping process, so longer term investors need to take heed.

My basic thinking is: we see recovery from early selling Monday, bounce into Tuesday and then go down into Thursday to around SPX 2308. By May 1, the 2360's could be beckoning. After that, it gets tricky again: probably down.

S&P500 Daily Chart
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GDX Daily Chart
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Website: www.blustarmarkettimer.info

 

Author: Brad Gudgeon

Brad Gudgeon
BluStar Market Timer
Blog
eaglesoveramerica.com

BluStar Market Timer Investment Philosophy: The stock market is currently in a technical Elliott Wave Bear Market Rally. It has been exhibiting A-B-C type waves instead of the normal 5 Waves since the market topped in 2000. According to "The Original Works of R.N. Elliott", we are due for a move down to about the S&P 500 442/443 area in the next few years. In my opinion, this is no longer a buy and hold market, but a traders' market. We mainly swing trade the market with funds and ETF's, but otherwise trade according to the market's disposition and to the traders' discretion. For the year 2014, BluStar Market Timer is rated #1 according to Timer Trac. http://www.blustarmarkettimer.info

Disclaimer: The information provided by the BluStar Market Timer is to be used for educational purposes only. We do not recommend the buying or selling of any securities, are not registered investment advisers and do not offer investment advice. Stock market investing is considered risky. Market timers can and do make mistakes. Past performance is never a guarantee of future performance.

Copyright © 2014-2017, Bradley Ray Gudgeon, BluStar Market Timer, Eagles Over America. All rights reserved.