Financial Market Timing

The Daily JDV Market Timer - May 28, 2024


Market Observations for the Week: The SPX did give us a B-Wave test of the 5/23 Full Moon high today and we may now be primed for a C-Wave down to test the 5/23 low at 5256. The VIX tested its high from last Thursday and that could us a retest of the Thursday lows for the SPX this week. Our current positions are 5% natural gas (UNG), 50% cash and 20% physical gold, silver and platinum. We are currently trading gold, silver and oil stocks with 25% of our cash. 

5/28/24 (Commentary for Monday)  The SPX made an ATH at 5341 early Thursday after strong NVDA earnings but only gave us a 3-wave pullback into Thursday's close - we are looking at that move as a Wave Wave A of an EW a-b-c correction with today's rally the Wave B. We are looking for a Wave C down to test the lows from Thursday at 5256. Silver looks ready to retest its highs at $32.75. The Moon entered Aquarius Monday and that  correlated with a low in the PM sector. 

Big Picture on Stocks (UPDATED)  The SPX made a new ATH at 5341 on the 5/23 Full Moon and 3-star critical reversal day - we then just received a just 3-wave pullback into Thursday's close which argues for at least a retest of 5341 this week. 

Big Picture on PMs (UPDATED)  Gold made a new ATH at $2454 Sunday evening and started an EW a-b-c correction down to $2326 Thursday evening - since the Moon entered Aquarius on 5/27, gold may be near a short-term low.  

Stocks – We view the pullback last week as a Wave A of an EW a-b-c correction. On Tuesday, the SPX gave us a Wave B test and we are now poised for a Wave C down to test lows around 5256.

Gold – After making a new ATH on 5/19, gold started an EW a-b-c correction that tested $2326 overnight Thursday. With the Moon entering Aquarius on Monday, we believe that gold has made a short-term low.

Silver –  Silver tagged $32.75 5/19 and then started a correction that tested its .382 retracement at $30.24 overnight Thursday - we think that silver is bullish for a retest of its highs soon. 

Bonds – Bonds continue to pull back as rates bounce.

Crude Oil – Crude oil bounced above $80 early Wednesday - we're bullish. 

Dollar Index – The USD is bouncing to test 105.


The turn window for this week is 5/28.

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