Stocks Project 1 – 3 Week Peak on May 21 – 23; Overall Rally into Late-June.
Stocks Project 1 – 3 Week Peak on May 21 – 23; Overall Rally into Late-June.
05/16/18 Weekly Re-Lay Alert: Stock Indices remain in intra-month uptrends, rallying into mid-month and up to monthly resistance.
While that would normally increase the odds for an intra-month peak, daily cycles could still extend a high into May 21 – 23 – the next phase of the 24 – 25 trading-day low-low-high-high-high-(high) Cycle Progression that most recently timed the April 17/18 peaks.
(Though the Nasdaq 100 remains the strongest index, it is showing signs it could peak as early as May 18 – 30 degrees from the April 18 peak and the culmination of a 23-day low (Apr. 2) – low (Apr. 25) – high (May 18) Cycle Progression.)
If a peak is set on May 18 – 23, it would likely spur a drop into early-June, the latest phase of a contrasting 21 – 23 trading day high-high-high-low-(low) Cycle Progression.”
Stock indexes remain in broad congestion but above cycle lows in late-April & early-May. This comes after the DJIA fulfilled projections (detailed since mid-2017) for a sharp drop from late-Jan. into/through March 2018 (lowest daily AND weekly close was March 23, 2018). It did that without turning its weekly trend down, projecting a rally back toward the late-Jan. highs.
A 1 – 3 week high is likely on May 21 – 23 followed by a more significant peak on June 25 – 29, the next phase of that 24 – 25 trading day cycle. In between, a quick pullback is likely, until cycles turn positive again in early-June. The Nasdaq is in the strongest technical position and is more likely to retest its all-time peak, leading into monthly cycle highs in June/July 2018. See Weekly Re-Lay & INSIIDE Track for additional details.