Last week, I was looking for a top in the stock market within a week or two. We are still very close to that top and nothing has changed. The SPX needs to break decisively below the rising trend line. Normally, markets coming off a top are slow to descend, giving the short seller plenty of time to react. A strong move down into June looks forthcoming.

Regarding gold and GDX, I was looking for the potential of new recovery highs in gold and GDX around the time of the FED meeting announcement. We got that with GDX *(my upside target was 21.49 and we hit 21.42), but gold failed to make new recovery highs. The pattern in GDX suggests a strong move down in the early part of next week and then perhaps one more move up into March 28th (21.90-22.00?).

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

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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.

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