The last time I wrote, I said I was looking for a bottom in the US stock market around the 12th of November. I honestly thought we would pull back harder than we have. As of Friday November 13th, the SPX has tagged the .382 Fibonacci retracement of the September 29-November 3rd rally near 2022, less than a 5% pull back.

The chart below explains why I believe we have bottomed or are close to bottoming. The cycles suggest a rally into around November 25 from here. I don't know if this will be a failing rally or a new recovery high is on the way. After Thanksgiving we should have another pull back into early December to satisfy the 7/14 week low.

As of this writing on Sunday, November 15, the SPX futures are down about 6 points in Europe. If we make a lower low Monday, this will be the first time this year that a low will be made while the moon has transitioned into Capricorn. Most of time it has made the buy low right after the moon has transitioned out of Scorpio into Sagittarius, but not into Capricorn (the chart wrongly states Virgo). The moon transitioned into Capricorn on November 14th.

Also, I had two TLC lows due on the 13th, and the perfect 33 TD top to bottom symmetry representing the 16/32 TD low +1 and the 8 TD low +2. Rarely does an 8 TD low go into TD 11. The 4 TD low is due no later than Monday at +1, but ideally late Friday from November 9.

There are important CIT's due today and early next week with the Bradley Siderograph dates of Nov 16-18 . P/C Ratios were high going into OPEX week and this normally suggests a bullish OPEX week. If the market goes lower Monday morning, it will be an anomaly caused by the unfortunate events in Paris on Friday, in my humble opinion, and a buying opportunity.

S&P500 Daily Chart

As far as gold and the gold mining sector are concerned, we could see weakness Monday followed by some strength into late week, but I don't see a bottom yet. Accumulation/ Distribution shows a new low coming and the 18-22 week low is still 2-4 weeks away. The current sideways action looks like a bear flag to me. I'll elaborate more on gold this next weekend.

Bottom line: gold looks sideways this week but then down again into late November/early December and the US stock market either has bottomed in the cash market or is about ready to bottom, with a rally into around November 25 and then some weakness into early December expected.

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 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 Gudgeon Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.