Counter Trend Rally in Gold Due; Stock Market Topping?
Stock-Markets / Financial Markets 2016 Jun 01, 2016 - 05:50 AM GMTBy: Brad_Gudgeon
The GLD chart below shows gold in a declining wedge. Cyclically, an 8 TD low is due in gold and a 4 TD low due in GDX on June 1st. A strong rally is indicated into June 2nd for both gold and GDX.
The stock market (as measured by the S&P 500) has either made its secondary top on May 31st or will likely do so on June 1, in my opinion. Another large drop is due in the weeks ahead.
Three charts below explain everything:
Brad Gudgeon
Editor of The BluStar Market Timer
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