Why the 2-Year Cycle & Weekly Trends Portend Multi-Week Rally.
Why the 2-Year Cycle & Weekly Trends Portend Multi-Week Rally.
Oct. 29 Wkly Support: 2592.0 – 2613.0/ESZ / 24,130 – 24,307/DJIA / 6655.0 – 6682.0/NQZ
10/29/18 – INSIIDE Track Stock Index Update: Stock Indices spiked lower today with many failing to close below Friday’s lows. This allowed them to spike to the extreme downside targets previously described (23,913/DJIA, 2590/ESZ & 6650/NQZ) and to test weekly support levels (reprinted above) on the first day of the week.
With several sell signals reaching fruition on Oct. 26, this spike low provides the potential for a new rebound…If a reversal higher is signaled in the coming days, equities could see a quick rally into Nov. 2 – 9 that would perpetuate a ~5-week high-high-high-high & a 10 – 11-week low-high-high-(high) Cycle Progression in the NQ-100.”
Equities are completing the projected 2-Year Cycle (October 2018) plunge and have fulfilled downside targets as they prepare for a decisive low that has long been projected for late-Oct. 2018. That could/should spur an initial surge into Nov. 2 – 9. All of this price action is corroborating the real intriguing potential for stocks – what is likely to unfold in late-2018/early-2019.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.