AAPL Reinforcing Analysis for Surge (From 152) Into Early-Feb; Corroborates Forecast for Indexes to Rally into Feb. 1 – 8.
AAPL Reinforcing Analysis for Surge (From 152) Into Early-Feb; Corroborates Forecast for Indexes to Rally into Feb. 1 – 8.
01/26/19 Weekly Re-Lay – “Stock Indices hesitated this past week but remain capable of extending their rallies into Jan. 30 – Feb. 4 and up to the extreme upside targets for these advances. One of the key factors is now the weekly trends, which enter a pivotal and decisive 1 – 2 week period…
Stock Indices remain in intermediate uptrends, pulling back to begin the week after fulfilling initial upside projections. The weekly downtrends were again neutralized on Jan. 25 – confirming that the late-Dec. low was of a higher magnitude than any other bottom of the past 3 – 4 months and setting the stage for a decisive week on Jan. 28 – Feb. 1.
This validates what cycles and wave analysis were projecting – an overall advance into late-Jan./early-Feb. It would take weekly closes above 24,860/DJIA, 2677/ESH & 6828/NQH to reverse those trends to up and escalate these advances…
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.
Corroborating that, key proxy stocks like GOOGL & AAPL, were projected to see new 3 – 5 day rallies beginning on Jan. 24/25 (see 1/23 Alert). As stated on Jan. 23, AAPL was in a position, for the first time since Oct. ’18, to turn its daily 21 MAC up and 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.
The overall indices could still make it to upside price targets at 25,324 – 25,462/DJIA, 2755 – 2765/ESH & 7104 – 7173/NQH. Newer resistance – at 24,970 – 25,045/DJIA, 2744 – 2749.5/ESH & 7099 – 7118/NQH – could slightly tweak those targets.”
AAPL remains bullish for January and is reinforcing forecasts for a surge to 172 into early-Feb. (that could spike higher). That further validates the outlook for stock indexes to 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.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.