Stock Market Danger Zone into August 2024: Tech/AI Stock Peaks Project Plunges!
07/22/24 – “Stock Indices are whipping in both directions with the small caps surging into mid-July ’24 cycles, after fulfilling their June ’24 cycle lows, as the NQ-100 fulfilled the contrasting outlook for a quick, sharp drop… (as part of what could be a larger correction into mid-August ’24) after fulfilling July ’24 cycle highs.
This type of divergence is expected to continue throughout much of 2024 with a final peak expected – at least in some (possibly all) of the indexes – in October 2024.
In the interim, a penultimate peak in July 2024 would reinforce that scenario and provide an even closer parallel to 2007. This, too, could occur in divergent phases (NQ in early-July, others in mid-July and DJTA possibly in late-July).
The recent action is very similar to what occurred in July 2007 – the previous phase of the 17-Year Cycle. At that time, the DJIA consolidated in May & June ’07 and then surged during the second week of July (July 9 – 13, 2007) before spiking higher on July 16 – 20, 2007 & setting a new 1 – 2 month peak.
It then sold off into mid-August ‘07 before rallying into mid-October ‘07 and setting a final peak.
In 2024, the DJIA consolidated in May & June ’07 and then triggered a bullish surge during the second week of July (July 8 – 12, 2024) before spiking higher during the ensuing week (July 15 – 19, 2024).
Will it repeat the pattern for mid-July – mid-Oct.?
The NQ-100 fulfilled multiple monthly timing projections with its July ’24 peak.
That completed two successive advances of ~20 months each (2020/2021 & 2023/2024).
That second ~20-month rally was split into successive ~9-month advances that occurred 12 months apart (Oct ‘22 into July ‘23 and Oct 2023 into July 2024).
It also fulfilled a number of upside price and wave targets while setting its July 10/11th peak. That combination of timing and price fulfillment reinforced the outlook for a sharp sell-off… into August…” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes set decisive multi-month peaks projected for mid-July 2024, in sync with overall 17-Year Cycle analysis and analogues. The NQ-100 is perpetuating parallels to 2007, in line with the 17-Year Cycle of Stock Market Peaks, with a decisive peak forecast for July 2024. Several timing indicators also projected a critical top for July 2024… and a sharp drop into August 2024! The Danger Zone is intensifying!
A key ‘proxy’ or ‘cue’ stock (a stock that often gives advanced signs of shifts in a broader market) fulfilled a (multi-month) peak projected for June 17 – 21st at/near 140.0/NVDA. It is already pinpointing primary multi-month downside targets (below 97.0/NVDA)… that would involve a serious sell-off in this and other tech stocks leading into August ‘24. Recent action has validated that outlook.
A secondary high was projected for July 8 – 12th and was fulfilled with uncanny precision… projecting a sharp drop into early-August. It generated a new sell signal – along with the Nasdaq-100 – and should trigger a larger sell-off in both markets into August 2024… in perfect sync with the 17-Year Cycle!
How Does Projected Mid-July 2024 Peak Reinforce Outlook for Sharp Sell-off into August ’24?
Why Did 17-Year Cycle of Stock Peaks Forecast Pivotal NQ + SP 500 Highs for July 2024?
Will This Corroborate the Projected 2025/26 Recession (& Stagflation) Cycle?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.