DJIA Retests MAJOR Price Target!
03/18/15 Weekly Re-Lay Alert: “Stock Indices remain in consolidation – rebounding in what is perceived to be a ‘b’ or ‘2’ wave bounce – after dropping into March 12th…From a longer-term perspective, the Indices continue to show signs of tracing out a Major top, after the DJIA finally reached its multi-year, extreme upside targets – at 18,150–18,550. That range should continue to provide a ceiling over any rallies.
On an intermediate basis, the focus remains on mid-April for a future low – the culmination of an initial, intermediate sell-off. The March 12th low perpetuated a 38-day high (Dec. 26)–low (Feb. 2)–low (March 12th) Cycle Progression that projects the next significant low for April 19th (April 17th or 20th are nearest trading days) – in line with the bigger picture scenario.
[March 11th/12th also completed a symmetrical, 50–51 trading day low-high – from Oct. 15th into Dec. 26th – and a subsequent 50–51 trading day high-low sequence – reinforcing its significance and the swings in this market.]
However, as stressed in recent publications, the weekly trend is the key. The Indices have all neutralized their weekly uptrends… twice. It would take weekly closes below [specific trigger levels reserved for subscribers] to reverse these trends to down. That would be the next – and most significant – confirmation of an intermediate turn…
Daily low-high-(high) Cycle Progressions project a secondary high for March 19/20th (Feb. 2–Feb. 25th—March 19/20th).”
Stocks confirming March 12th cycle low; March 20th (+ or – 1 trading day) could see next high.