Stock Market Poised for Nov 4 – 9 Peak; Sell-off into Late-Nov/early-Dec.
11/04/21 INSIIDE Track Update – “Stock indexes remain focused on 1Q ’22 (ideally, Jan ’22) for the next multi-month peak. Their early-Sept ’21 peaks corroborated that with a ~4-month high-high-high Cycle Progression (next recurring in Jan ’22) reinforcing the prevailing ~8-Month & ~16-Month cycles.
A (1 – 2 week or longer) peak in the coming days would also concur, perpetuating 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 equivalent time frame is Nov. 4 – 9.
That could also set the stage for a repeat of a pattern seen repeatedly in June – Sept. In those cases, many stocks peaked around the same time of the month and then sold off into the 18 – 20th of the month.
The Russell 2K has finally surged to new highs, fulfilling its weekly trend pattern and ushering in the potential for a 2 – 4 week peak in the coming days. That could lead to a reactive sell-off into late-Nov…
The NQ-100 also resumed its bullish trend and is likely to surge 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, weekly LHR, monthly Raw SPR and related wave targets.”
Stocks continue to trace out a lengthy topping process that began with weaker equities and indexes peaking in May/June ’21 – the time for (at least) a 3 – 6 month peak. Other (stronger) stocks and indexes – like the S+P 500 and Nasdaq 100 – were/are projected to set a sequence of intermediate highs in May/June, early-Sept and now early-Nov ’21. Most indexes expected to peak on Nov 4 – 9.
The Russell 2000 is fulfilling its monthly & weekly trend patterns as well as Elliott Wave structure – all of which projected a final surge following the Sept 20 cycle low. Some follow-through could be seen – with key upside targets a little higher than current levels – before an initial sell-off into late-Nov.
The DJTA has done the same – and has reached multiple major upside 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. 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.