Stock Market Peaking; Nasdaq 100 Poised for Final Spike to ~16,700/NQ.
11/13/21 INSIIDE Track Update – “Stock indexes remain focused on 1Q ’22 (ideally, Jan ’22) for the next multi-month peak. Their early-Sept ’21 peaks – and the subsequent sell-offs into early-Oct. – corroborated that with a ~4-month high-high-high Cycle Progression (next recurring in Jan ’22) reinforcing the prevailing ~8-Month & ~16-Month cycles. As also discussed throughout the past 6 – 9 months, the ~2-Year Cycle also recurs in Jan/Feb ’22 and portends a multi-month peak at that time.
A (1 – 2 week or longer) peak on Nov 4 – 9, which recently took place, concurred and perpetuated a corroborating ~60-day/~2-month low-high-high-high-(high) Cycle Progression – that would have its next phase in early-Jan ’22 – in which peaks (preceded by a low in March ’21) were seen on the 4th – 7th trading day of every other month (May, July, Sept. and Nov)…
The NQ-100 remains capable of surging to 16,550 – 16,700/NQZ in Nov., where a myriad of upside objectives converge. They include a 3 – 6 month/Intra-Year LLH objective (Mar ’21 low – Oct ’21 low – high), monthly LHR, monthly Raw SPR and related wave targets.
Most indexes neutralized their daily and intra-month uptrends during the recent sell-off but have not yet been able to turn those trends down. It would take daily closes below the Nov 1 lows (35,797/DJIA, 4586/ESZ & 15,595/NQZ) to turn the intra-month trends down and elevate this correction to a higher magnitude..”
Stocks are fulfilling critical upside targets with the NQ-100 still likely to spike up toward ~16,700/NQZ – ‘where a myriad of upside objectives converge’ before a peak is intact.
The Russell 2000 has fulfilled its monthly & weekly trend patterns as well as Elliott Wave structure – all of which projected a final surge following the Sept 20 cycle low. It has reached key upside targets and could now see a sharp sell-off.
The DJTA has done the same – and has reached multiple major upside price targets – setting the stage for a multi-month (or longer) peak. The NQ-100 is expected to spike up to ~16,700/NQ in order to fulfill a decisive wave ‘5’ objective and then drop into early-Dec. Continued divergence is expected as the equity markets prepare for what could be a dramatic shift in 2022.
How far could stocks drop into late-Nov/early-Dec ’21? What are ramifications of DJTA, Russell 2000 and NQ-100 attacking multi-month or multi-year upside targets??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.