Stock Market Is Going Take Another Spill!
Last weekend I was negative on the stock market. I also expected an 8 TD top by July 2. We got a late week rally. Now we have the Sun opp. Pluto today and Sun/Mars making a cardinal t-sq. to Uranus/Pluto into July 12. This makes for wild swings in the market. I have a TLC low due 7/8, but the shallow angle begs for a low the day before or 7/7 (as happened last week) right on the 4 TD low.
On 7/8, we have the FOMC minutes along with a positive Mars trine Neptune, and a Solunar CIT due on Thursday 7/9 right on the 4 TD top. This could be a repeat of last week with the SPX rebounding 29 points off the lows of Monday and Tuesday. The next low is the 8 TD low due around 7/13. We also have a Solunar CIT due on 7/13 along with the Sun sq. Uranus.
The SPX looks to fall at least as hard as last Monday come 7/6 due to the OXI Greek vote. The DAX futures are already down some 4% with the FTSE down about 2%. The down side should be limited to the SPX 2027-32 range on Monday and Tuesday with a 29 point rebound into Thursday and then down again into 7/13. Anything lower than 2027-32 next week would surprise me.
The overall look of this market is to continue lower into around August 3, 2015, the 200 TD low from October 15, 2014. Downside targets are SPX 1810-1925.
Some of my subs thought I was crazy for being short over the weekend last week. Again, I was called into question many times for being short this weekend ahead of the Greek referendum. Wisdom is vindicated by her children!
Brad Gudgeon, editor and author of the BluStar Market Timer, is a market veteran of over 30 years. The subscription website is www.blustarmarkettimer.info
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