Stocks Confirming Reversal Buy Signals… Project Intermediate Rally into November 22 – 24th
11/11/23 – “Stock indexes are fulfilling projections for a pair of sharp rallies from cycles lows on Oct 25 – 27 – first into Nov 3/6 and ultimately into Nov 20 – 24 The NQ-100 remains the strongest while the Russell 2000 continues to lag…
Stock Indices remain in multi-week uptrends after fulfilling a diverse combination of weekly trend patterns, weekly HLS levels, timing retracement levels, and daily cycles – all projecting a 1 – 2 month (or longer) bottom in late-October ‘23.
The greatest synergy of those timing factors pointed to Oct 25 – 27 as the time for that low – to be followed by an initial surge into early-November and then a subsequent rally after a brief pullback.
In addition to all the above-referenced indicators, the DJIA also provided another textbook example of wave equivalence – in price AND time – completing a decline of 12 – 13 weeks and ~3,300/DJIA points.
In December ’22 – March ’23, the DJIA also had a decline of 12 – 13 weeks and ~3,300/DJIA points…
Stock indexes were expected to undergo an initial rally into Nov 3 (+ or – 1 day) – the midpoint of a ~6-week cycle that projects a future, more significant peak. They did that while turning their daily trends up, signaling that an initial peak would give way to a brief (1 – 3 day) reactive pullback followed by a subsequent rally.
That rally should last into Nov 22/24 – the next phase of a ~6-week/~42-day high-low (Mar 13) – low (Apr 25) – low (Jun 8) – high (July 18/ 19) – high (Aug 31/Sept 1) – high (Oct 12/13) – (high; Nov 22/24) Cycle Progression that timed previous peaks. It would also fulfill a related ~18-week low-high-(high) Cycle Progression… More upside is expected between now and then.”
Stock Indexes have generated upside reversal signals after fulfilling a myriad of downside price & timing objectives, wave targets, and cycles converging on Oct 27/30, ‘23. That has ushered in the projected 4Q 2023 advance – likely lasting into/through January 2024.
Is Another October – January Advance Unfolding?
How Would This Impact Outlook for 2024/2025?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.