Stocks Poised for 1–2 Week Top
01/25/17 Weekly Re-Lay Alert:
“Stock Indices remain positive with the DJIA finally breaching the psychological 20,000 level after pulling back and neutralizing its daily uptrend several times… but not reversing it down. The DJIA has now validated that signal by rallying to new highs.
This coincides with related daily cycles and the daily trend pattern in the Russell 2000. As explained on Jan. 21st, that Index had just turned its daily trend to down and was expected to see a sharp 2–3 day bounce. It has now rallied for two days – and twice neutralized its new daily downtrend – and needs a daily close above 1384 to reverse that trend back up.
That pattern provides a contrasting potential as well – that a secondary peak could be set in the next 1–2 days, without the Russell 2K being able to turn its daily trend back up. Tomorrow’s close should hold the key to that near-term scenario.
As for the other Indices, and the Russell, they all remain in convincing weekly uptrends, so the 1–3 month trends remain solidly up. Another thing they share in common is the developing tests of their weekly LHR levels (intra-week extreme upside target) and monthly resistance/projected highs (Raw SPR)…
The S+P has also (initially) perpetuated a 25–27 day low (Oct. 13)–low (Nov. 9)–low (Dec. 5)–low (Dec. 30)–(high) Cycle Progression – recurring on Jan. 23–25th. The corresponding 17–19 trading-day low (Oct. 13)–low (Nov. 9)–low (Dec. 5)–low (Dec. 30)–(high) Cycle Progression – is on Jan. 26–30th.
The Nasdaq 100 is nearing its weekly LHR – and two of its last 3 weekly LHRs – at 5176–5184/NQH. It has set its last 3 intermediate highs on the 25–29th of the month, creating a ~30-degree high-high-high cycle that also returns at this time (Jan. 25–30th). The daily LHR patterns – in all three Indices – also project a 1–2 week peak on Jan. 26th or 27th.”
Stocks Poised for 1–2 week peak. Jan. 23–27th cycle highs (25–27 day S+P cycle; ~30-degree NQ cycle) project ensuing high around Feb. 20–24th. 17-Year Cycle warns of significant peak by the end of 1Q 2017 … and the onset of a very challenging period, at least into March 2018. See Weekly Re-Lay & INSIIDE Track for additional details.