August ’19 Stock Plunge X: Second Plunge Poised to Take Hold; Aug. 12/13 = ‘Pivotal’… Time for Peak & Reversal Lower. Why is Aug. 30 So Crucial??
08/12/19 INSIIDE Track Intra-Month Update II – “Last week, while plunging into Aug. 5/6, equities attacked weekly downside extreme targets (HLS levels at 2797/ESU & 7249/NQU). That pinpointed initial support while also portending a more important bottom to take hold in the 2 – 3 weeks that follow. That time period lasts until Aug. 30 and dovetails with weekly cycles…
Weekly & monthly index cycles project a multi-month low in late-Aug. (possibly Sept. ’19 in some indexes). In the DJIA, that would also fulfill an 11 – 12 week high (Oct. ’18) – low (Dec ’18) – low (Mar ’19) – low (Jun ’19) – (low; Aug 19 – 30) Cycle Progression.
Daily cycles appear to be corroborating that. The recent high could be clarifying that with the DJIA (and other indices) perpetuating a 24 – 25 day high (6/21) – high (7/15) – high (8/09) Cycle Progression that next comes into play on Sept. 3. If a low is set then (1 trading day after Aug. 30), it would arrive exactly 3 months (90 degrees) from the June 3 low.
[That daily sequence would be very similar to what stocks did between Oct. 16 and Dec. 26, when they created a ~24-day (23 – 25 day) high (10/16) – high (11/08) – high (12/03) – low (12/26/18) Cycle Progression. That is not the only parallel to 2018, however. In several key indexes, the Nasdaq 100 being one of them, stocks peaked after a 29 – 30 week rally, from early-Feb. into Sept. ’18. In July ’19, the Nasdaq 100 completed another 29 – 30 week rally, from the late-Dec. ’18 bottom. These patterns and parallels continue to reinforce the overall outlook for 2018/2019 – involving a wide trading range with related rallies and declines within that range.]
Stock indexes turned back down today but need to close below their recent (Aug. 5 – 7) lows in order to elevate this correction to a higher magnitude decline. The action of the next 1 – 2 days should help clarify the near-term outlook and hone the likely time for the next sharp (short-term) move.
In late-July, Stock indices entered a 6 – 8-week period when the inversely-correlated weekly 21 MARC will surge – increasing the potential for the weekly 21 MAC to flatten and turn down – exerting negative pressure on price action. The first part of that was a two-week surge (21 MARC) that precisely correlated to the two-week drop in prices.
The second phase begins next week and will also usher in the time when the corresponding weekly 21 MAC has the best chance for turning down. So, additional indicators are corroborating the late-July – late-August outlook for stocks [reserved for subscribers]”
Stock markets increasing likelihood for second sharp sell-off after Aug. 12/13. Daily trend patterns & daily 21 MACs corroborating while other technicals pinpoint time for panic selling! 40-Year Cycle AND 4-Year Cycleproject Aug. ’15-style sell-off. What does this reveal about Sept. – Dec. 2019?? And 2020???
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.