Right now, the coming dip could be a little scary, but shouldn’t amount to much, maybe around 4%. My guess is the first couple of days next week should see a sharp drop, but a buy the dip mentally and seasonal strength should prevail for now. The astros were ripe for a top around February 27-March 2. We have another even more complex period coming up March 31-April 15. March 31 could be a top and then another secondary bottom around April 11-12 would be ideal. A sharp drop next week would produce a need for a momentum failure retest by around early/mid April.

S&P500 Daily Chart

GDX had us watching for a top on Tuesday and buying the dip late in the day (21.27) and early Wednesday. I had a target for Thursday around 23.42 and we tagged 23.45. My subs made a huge 23%+ on NUGT and even bigger on GDX calls. I am currently neutral on GDX, but bet higher highs are soon around the corner.

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 2017, 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.

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