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Sunday, August 11, 2019

New Highs Ahead Then a Crash?

The S&P 500 weekly chart below shows the expected outcome into early next year. Next week should see a nice pull back into Tuesday that launches the next wave up called "c" of Y into August 19 and then Z of "X" is due down into early September likely due to the Chinese devaluing the Yuan (remember August 2015?) to counter Trump's 10% tariff on Sept 1.  We are at a 4 year cycle low.

I see a lot of nasty astros around Sept 1-3. A basing pattern (W Bottom?) into the 4th or 5th possible then higher in September before we re-challenge the lows in early October.

Gold and the precious metals and mining shares look toppy and they look ready to plummet into Dec/Jan 2020 to fulfill their 4 year cycle low.  We should see a nice rally into the summer of 2020 like 2016.

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The expected volatility ahead will make some of us a lot of money in the coming months. Options give you the best leverage in markets like what we see just ahead. I turned $450 into $6400 in early August.  I can't by law promise you that you will make that kind of returns as the risk is also high that you could lose everything you put up, but volatile markets can make you a lot of money if you manage your money right.

Brad Gudgeon, Editor

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