Stocks Fulfilling ~October 18th Cycle Highs; Portend Quick Sell-off; Late-November ’24 Cycle Highs in Focus
10/19/24 – “Stock Indices remain positive with the DJIA & S+P Midcap 400 following the same pattern that projected a new surge from October 7/8th into October 17/18th (possibly Oct 21st).
The S+P Midcap is approaching its LLH & Intra-Month PLLR target at 3240/IDX (Sept low of 2894 – Oct low of 3067 targets 3240) and should peak near there. (That is just below a much larger-magnitude LLH at 3298/IDX… generated from the Oct ’23 low of 2322 & Aug ’24 low of 2810.)
If it attacks 3240/IDX on Oct 21 – completing back-to-back rallies of equal duration – that could trigger a new sell-off in line with other stock index cycles…
Stock Indices are fulfilling outlooks for rallies into October 18th (with possible spike highs on Oct 21st) and could see a quick sell-off take hold on/after Monday.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes remain strong and have fulfilled signals projecting a rally into October 17/18th. A quick sell-off is expected to follow. The ~5-week/~37-day cycle that peaks on ~October 18th portends a subsequent peak on/around November 22/25th – when a myriad of cycles top in the S+P Midcap 400.
The S+P Midcap 400 and related indexes are showing that small and mid-cap stocks are likely to lead a surge into late-November ’24. The 17-Year Cycle remains focused on 4Q 2024 as the most likely time for a major peak in equities but price action needs to hone when and where that is most likely.
Interestingly, Bitcoin recently corroborated this outlook – generating additional buy signals in early-October and projecting a surge into November 2024. See October 3, 2024 issue of The Bridge for details.
Why is S+P Midcap 400 Poised to Lead Surge into Late-November?
What Does the 17-Year Cycle of Stock Peaks Portend?
Will This Coincide with Election Cycles and the Outlook for US Dollar?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.