NQ-100 Confirming Strength & May 23 Buy Signal.
NQ-100 Confirming Strength & May 23 Buy Signal.
05/26/18 Weekly Re-Lay: Stock Indices have consolidated since fulfilling their latest rally expectations. The Nasdaq 100 remains in the most positive structure and could see a new spike high in the coming week and an ultimate retest of its intra-year high…
Stock Indices remain in congestion with the next multi-month peak expected in late-June/early-July – the latest phase of the ~5-month low-low-low-low-high-(high) Cycle Progression…
The weekly & intra-year trends remain neutral in the DJIA & ESM while positive in the NQM. That could generate another spike high in the NQM, in the coming week, after holding its latest daily cycle high for two weeks. At the same time, the DJIA & ESM enter a 1 – 2 week period when their weekly 21 MACs are far more likely to turn down.
Stock Indices continue to show divergence in the short-term (reinforcing prevailing congestion), with the Nasdaq 100 exhibiting positive signs while the DJIA & ESM are mixed. All three are bouncing from their ascending daily 21 High MACs – remaining above those channels in a bullish structure. They need to close higher on Tuesday in order to confirm a bounce and project a new spike high.
They continue to swing in different rhythms, peaking and bottoming at differing times. In late-April, the NQM fulfilled April 23 – 27 cycle lows while the DJIA & ESM projected an additional sell-off into early-May. The NQM has rallied since then.
More recently, the NQM was expected to [reserved for subscribers].”
The Nasdaq 100 is validating the multi-week buy signal it generated on May 23 and remains on track for a rally back to its highs, leading into a multi-month cycle peak in late-June/early-July. See Weekly Re-Lay & INSIIDE Track for additional details and/or related trading strategies.