Stocks Fulfilling Projected Rally into Sept. 13/16… NFLX Signaling More Trouble on Horizon (‘Canary in Coal Mine’). Stocks Precarious After Mid-Sept.
09/11/19 Weekly Re-Lay Alert: “Stock Indices are reinforcing the outlook for a rally from Aug. 26/27 (daily & weekly cycle lows) into Sept. 13/16 (daily cycle highs) and back up to the late-July/early-Aug. highs (weekly trend objectives). Similar to last week, they did see a quick pullback into Tuesday with the S+P & Nasdaq 100 testing and holding their daily HLS levels and reversing higher.
Those levels were also right near the previous highs (resistance turned into support) – reinforcing the overall outlook for a strong 2 – 3 week rally from Aug. 26/27.
Late-Aug. saw the first validation to that outlook when the DJIA & NYA triggered bullish daily trend buy signals – turning their daily trends up in validation to the then-recent cycle lows. A steady progression of confirming signals has emerged with the intra-month trends (turning up) being the latest.
That signal reinforces the outlook for a surge into mid-Sept. – the primary upside target for an intra-month uptrend. A rally into mid-Sept. would also perpetuate the uncanny parallels to 2015…
In 2015, primary indexes peaked on July 16 and entered a ~40-day sell-off – bottoming on the Monday of the final week of Aug. (Aug. 24). In 2019, primary indexes (DJIA, NYA) peaked on July 16 and began a ~40-day sell-off – bottoming on the Monday of the final week of Aug. (Aug. 26) – along with daily cycles.
In 2015, that Aug. 24 low led to a rebound into mid-Sept. before a sizeable sell-off.
In 2019, the Aug. 26/27 has been projected to trigger a rebound into early-to-mid-Sept. before a new sell-off…
The Dow Transports are revealing some of the most consistent cycles and intriguing indicators with decisive resistance at 11,000 – 11,150/DJTA. More on that to follow.”
Stock markets rallying from projected Aug. 26/27 low; expected to peak on Sept. 13/16. NFLX reinforces outlook in stocks (‘canary in coal mine’) – projecting rebound into Sept. 6 – 13 before new trouble triggers next leg down. (NFLX overall downside target remains MUCH lower!) Why is Sept. 16 – 30 a dangerous period for equity markets?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.