Mini Panic into July 25?

I'm predicting 3509 SPX by July 25

See my private blog for my daily forecast into August 16

Forecast includes chart of the SPX.

Glad your sticking to your prediction, think it will be tough to get there but glad I'm at least on the short side so that would be great lol!!! 

I sent this out to my subs this morning:

SPX flat (Dow -92, the Dow 30 are leading on the way down), NDX +45 ( SPX futures made a new high at 3975.7); Gold flat, Silver -1%, Dr. Copper -1%, OIL - 4%, Bitcoin - 4-5%, Bonds Down.

As I observed yesterday, the cash SPX made an irregular top (x-y-z [x]) near resistance (under) at cash 3974.17 (resistance being 3974.3). We are at a 16 TD top from early June 28th! What followed was a w-x-y [y] wave. On June 28, the SPX made an irr. [y] wave top, but the NASDAQ did not. That irr. top carried everything to new recovery highs.

This time, the SPX futures made a new recovery high, but the cash will not. This time the NASDAQ (NDX) will likely make a new recovery high on the cash, but nothing else is following: Bitcoin down almost 5%, copper and silver are down, oil is down and so are bonds: we are out of balance!

I have often repeated this one truth: irregulars upon irregulars seldom end well (they never do), and now we have had a rare triple irregular top. We are exceedingly compressed here, and that does not bode well for the market at all. As Wave [X] (June 27-30) was 3 TD's days long and so will Wave [Z] be 3 trading days long (July 20-25). Each index (SPX and NDX) being interceded by irregular tops.

What does this tell me? I think you know the answer! I sent out a chart I made last night until 12:45 AM. 'Nuff said...

Trade Safe,

Brad Gudgeon

Editor,

BluStar Market Insights

I have the SPX top to bottom down about 11.7%, while the over speculative NDX should be down about 15.8% into the July 25 low.

The QQQ made a new recovery high as I said today in advance, while nothing else did!

Was Tesla the blame?

I just wrote this a few minutes ago:

As I predicted the NDX (QQQ) made a new high, methinks due to Tesla, at 304.88, above yesterday's 304.24. The SPX made a new recovery high in the futures only.  The Dow 30 Index and especially the whole NYSE Index are lagging badly. The QQQ filled the first breakaway gap, the SPX hit the gap resistance.

The NDX had been badly beat up into June, so money flowed into that index, but not with the benefit of the other indexes, especially the NYSE. I see the SPX down 11.7% into July 25, and the NDX -15.8%, lesser amounts on the Dow 30, but especially the NYSE INDEX. TECH is over speculated (TESLA mainly) and so even the SPX should get hurt worse than the Dow 30 and NYSE.

The best stocks to own, IMHO, at the bottom(s) [looking for a double bottom next week] (or indexes mainly) will be the relative strength Dow 30 and NYSE (defensive issues)  Also, included will be the precious metals and their indexes like GDX (NUGT?) as they go into their 2 year cycle top around August 11. Defensive is the key!!! SPX will do rather well too, but not as well as the others, IMHO.

Just my humble opinion for what it's worth. Do your own good due diligence. I personally believe that buying select put options both up and down according to my chart into August 16, can make people a lot of money. I will update as we get closer to that August 11 Full Moon top. I just want to say, "Thanks for your patience & kindness here on this board". You know who you are.

The Nasdaq is making a 'never before seen' quadruple irregular topping action, which makes the compression even greater, because all that remains is a pure Z wave, just sheer panic... when this thing breaks today it will break hard... straight down.. this means (with extremely odds) all the buyers that would buy have bought...now we wait for the blame or catalyst... watch, we just need the pin to prick this crazy tech bubble since the June lows!

Trade Safe,

Brad Gudgeon

Editor,

BluStar Market Insights

The SPX is now at an official Triple Irregular Top!

This is a blow off speculative top of huge proportions!

We just went into the gap at 3984/85!

The ortho low on Monday should be exactly 2 days evenly from today's top based on Z=X. Nothing left but pure z of Z is coming to the downside.

The NEG D's are glaring!!

Trade Safe,

Brad Gudgeon

Editor,

BluStar Market Insights

The 6 month cycle from Monday Jan 24 to July 25 on Monday saw an hourly low exactly where are right now at 3987 SPX.  This matches the time balance of wave z of [X] to z of [Z] from the irregular wave top on June 28.

This madness is ending... 3987 SPX to the low 3500 area in 2 exact days!!! Get ready for a wild ride. All the buyers that would have bought, have likely already bought and most all the shorts have been eliminated...this is a recipe for a huge fast drop!.

Does anybody see anything going up in this madness beside TESLA!!

The odds of this happening with the remainder of Mega Caps not reporting until the 26th and 28th....pretty much Zero..

A pullback sure, but likely not much more. My guess is much more than perhaps 3860 in that time frame would be very difficult for bears to achieve...