DJIA Validates Future ‘Danger Period’ After Mid-Sept ’23; Signals Impending Peak.
09/02/23 – “Stock indexes have rallied after selling off into daily & weekly cycles (~Aug 18 – 25, ’23) and reversing higher. That was reinforced by bullish weekly trend & weekly 21 MAC signals that project a rally into mid-Sept ’23 – when another multi-week top is expected…
The DJIA did exactly what was described – spiking down to ~34,200 but not giving a weekly close below 34,342/DJIA – the level of the Jan ’23 high (the high of the 2023 opening range that dictates the parameters for the intra-year trend)… The weekly trend in S+P 500 is a little different but also projects a multi-week rebound.
At the same time, the Russell 2000 twice neutralized its weekly uptrend – but did not turn it down – while repeatedly testing & holding 1 – 2 month support at ~1840/QRU. That is where this sell-off had been forecast to reach, and to bottom…
The weekly trend structure, when combined with prevailing daily/weekly cycles, is still projecting a rally into mid-Sept ’23, at which time another multi-week (possibly multi-month) high is likely. This could be the first of 2 or 3 successive highs – in Sept, Nov ’23 & Jan ’24 – that set up a more significant peak in line with the 2-Year & 17-Year Cycle.
The DJIA just attacked its weekly LHR, increasing the potential for a 1 – 2 month high to take hold in the next 2 – 3 weeks…
Stock Indices fulfilled intermediate cycle lows and many downside objectives on Aug 18 – 25 and have rallied since then. Most turned their daily trends up and need to now turn their new intra-month trends up to validate the outlook for an overall rally into mid-Sept ’23.”
The Russell 2000 is again leading a multi-month reversal lower, peaking right at is converging monthly 21 & 40 High MACs – the upper ranges for its 3 – 6 month and 6 – 12 month trading ranges – providing a myriad of ‘ideal’ criteria for a major ‘B’ wave rally to peak and a large scale ‘C’ wave to begin. It also attacked and held CRITICAL intra-year trend resistance (as did the S+P Midcap 400) and reversed lower. A second, more significant ‘danger period’ begins on/after Sept 15, ‘23.
The S+P 500 confirmed a multi-month peak was set in late-July/early-Aug ’23 – the precise time stocks had been projected to enter a precarious ‘danger period’. It turned its weekly trend down during the initial drop into late-Aug ‘23 – a lagging & confirming indicator that is usually triggered near the bottom of an initial sell-off and portends a reactive 1 – 3 week bounce… into the next bearish period after Sept 15, ’23, when a more significant decline has been forecast.
The DJIA concurs with its weekly LHR also portending a multi-week (or longer) peak around mid-Sept ’23.
Why Does DJIA Project Significant Peak in mid-Sept ‘23?
How Does S+P 500 (Negative) Weekly Trend Reversal Confirm Multi-month Top?
Why is Another Sell-off Very Likely after Sept 15, ‘23??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.