Stock Market, Gold Early Week Pullback Expected – The Market Oracle
Stock Market, Gold Early Week Pullback Expected
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Stock Markets 2015Aug 17, 2015 – 09:08 AM GMT
By: Brad_Gudgeon
Stock Market: The 12 TD low came on Wednesday along with the TLC low near 2052. Next is due the 4/(8-1)/16 TD low on Tuesday this next week. Support is in the 2039/2046 SPX area. Friday the 14th was a solunar turn and new moon as well as the 4 TD top. I believe we are nearing a short term low and a rally (low 2100’s SPX) is due into OPEX and even the day (August 24) after where we can expect lower prices again. The next TLC low is due August 31, so an August 24-31 drop is indicated.
Gold: The 16 TD low is due ideally late Monday August 18, 2105, but could come Tuesday with the expected stock market low. A drop of around $11 an ounce should cover the important gaps. We got out of NUGT on Wednesday for a nice profit and the last two trading days, gold pulled back strongly. We look to go long by Tuesday latest and another 5 trading rally is expected. NUGT could drop another 9-11% into the early week low. The trend is counter trend and “up” into October.
Next week, I will concentrate more on the expected Sept/Oct drop to my expected target into the low 1700’s SPX and the continuing countertrend gold rally. Remember, we trade the markets, not the forecast.
Brad Gudgeon
Editor of The BluStar Market Timer
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 2015, 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 GudgeonArchive
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Stock Market, Gold Early Week Pullback Expected – The Market Oracle
