AAPL Projects New Surge (From 152); Corroborates Forecast for Equity Indexes to Rally into Feb. 1, Potentially Feb. 4 – 8.
AAPL Projects New Surge (From 152); Corroborates Forecast for Equity Indexes to Rally into Feb. 1, Potentially Feb. 4 – 8.
01/23/19 Weekly Re-Lay Alert: NFLX & Other Proxies (What’s Ahead for AAPL?) – “Stock Indices remain in daily & intra-month uptrends, pulling back to begin the week… The weekly trend signal portends an overall advance that could stretch into early-Feb., providing enough time for a second neutral signal (on Jan. 25?) and then an ensuing spike high and 1 – 2 month peak – either on Jan. 28 – Feb. 1 or Feb. 4 – 8.
From a monthly cycle perspective, a peak in late-Jan. 2019 would arrive ~1-year/360 degrees from the late-Jan. ’18 peaks as well as during corroborating ~6-month (late-Jan. ’18 – late-July ’18 – late-Jan. ‘19) & ~4-month high – high cycles that are most evident in global indices (late-Jan. ‘18 – late-May ‘18 – late-Sept. ‘18 – late-Jan. ’19).
Based on daily/weekly cycles, that next high could stretch into Jan. 30 – Feb. 4 and perpetuate a ~60-degree high (early-Aug. ‘18) – high (late-Sept./early-Oct) – high (early-Dec.) – (high; Jan. 30 – Feb. 4) Cycle Progression.
If (and this still remains a big IF) the rally stretches into Feb. 4 – 6, it would also complete a 50% rebound (in time) of the 12-week/~84-day declines from early-Oct. into late-Dec.
The primary indexes tested and held their weekly support levels and daily HLS levels (daily extreme downside targets) yesterday – while retesting their previous upside breakout levels and/or weekly trend neutral points (resistance turned into support) – identifying what should be the extreme for a brief, intra-week pullback.
That is occurring as the daily 21 MACs are turning up and poised to accelerate higher. A few proxy stocks, most notably GOOGL, pulled right back to test its now-ascending daily 21 High MAC and quickly reversed higher. That pattern often acts as a catapult, projecting another (relative and proportional) surge.
Another key, but lagging, stock is worth discussing. If it fulfills some of its near-term potential, it could be the impetus behind a new 3 – 5 day rally in the NQ-100.
AAPL is in a position, for the first time since Oct. ’18, to turn its daily 21 MAC up. That is occurring as AAPL is trading near its daily 21 High MAC, so an upside breakout and channel reversal could coincide.
That could spur a sharp rally into Jan. 28 – Feb. 1, the next phase of a consistent 17-week low-high-high-(high) Cycle Progression and the midpoint of an over-arching 34-week low-high-(high) Cycle Progression.
As previously described, AAPL dropped to its June 2017 low (142.20) – a 4th wave on a slightly larger-degree basis – while completing a .618 retracement of its entire 2016 – 2018 rally (144.50/AAPL = target/ support). That support could remain in force throughout all of 2019. So, its recent low could hold for several months.
At the opposite extreme is NFLX, which has been strong since cycles bottomed in late-Dec., the same time that its monthly trend pattern and monthly HLS indicator projected a multi-month bottom. It fulfilled almost all of its intermediate (2 – 4 week) upside potential last week while precisely fulfilling its uncanny 15-week Cycle Progression.
It projected a rally into Jan. 14 – 18 and a spike above 350.0 (weekly LHR) as it attacked pivotal resistance at its weekly 21 High MARC (359.15/NFLX). NFLX surged into Jan. 16 and peaked at 358.85! It did that while failing to turn its weekly trend up – corroborating the weekly cycles.
Looking at the overall indices, the second set of upside price targets remains at 25,324 – 25,462/DJIA, 2755 – 2765/ESH & 7104 – 7173/NQH. Those targets incorporated 3 of the latest 5 weekly LHRs, the monthly SPR(projected high) for Jan. 2019, and now also include the weekly 21 High MACs in the current week.
A rally to those levels would also match the magnitude of the entire April – Sept. rallies in each of the indexes. The DJIA is generating daily LHRs in that same range, so it could attack that level in the coming days IF tomorrow’s action sets new rebound highs.
Stock indexes need to generate Jan. 25 closes above 24,100/DJIA, 2621/ESH & 6682/NQH to again neutralize the weekly downtrends and set up next week as a decisive one. More on that this weekend.”
AAPL is corroborating the outlook for stocks & stock indexes to experience an overall surge (from Dec. 26) into early-Feb. and up to ~25,300/DJIA and ~7100/NQH. Weekly trends corroborate this and project a likely rally into Feb. 1, potentially stretching into Feb. 4 – 8 before a 2 – 4 week top becomes more likely. These trend signals are the key to 1Q 2019 outlook and could/should hone what to expect after early-Feb. (potential) peak. AAPL (currently near 152) is expected to reach 172 by early-Feb. and could spike higher.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.