Bitcoin & Stocks Project Initial Highs on Oct 17/18th; Higher Highs into November ’24
10/14/24 – “Stock Indices remain positive and are reinforcing the outlook for a quick surge into October 17 – 21st with the DJIA & S+P Midcap 400 leading the way after tracing out textbook daily trend and 21 MAC sequences.
The DJTA corroborated that by tracing out an entire ‘a-b-c’ decline without turning its daily trend down, a sign that signaled it was poised to embark on a new rally…
The outlook for an initial surge into mid-October aligns with the primary (geometric) cycle in the DJIA that comes back into play in the coming week… Meanwhile, the NQ-100 maintains wave targets near the July ’24 peak – around 21,200/NQZ. New monthly resistance concurs and is reinforced by the recent lows creating an Intermediate LLH in the vicinity. Wave objectives are reinforcing that target range.
This could be showing that stocks will see a rally into October 14 – 21st (greatest synergy on Oct 17, 18 & 21) followed by a brief pullback and then a late-month rally…
The S+P Midcap 400 has broken out higher in fulfillment of ongoing analysis. It remains on track for a future peak on October 24 – 31st… a precursor high…
Similar to what occurred in June/July 2024, this could be showing that another push into smaller & mid-sized stocks is on the horizon. Interestingly, the S+P Midcap has its greatest synergy of monthly & weekly cycles converging in late-November ’24.
If a multi-month high were set at that time, it would fulfill the following cycles & timing indicators:
- ~13-month/~56-week low-low-(high; late-November ’24) Cycle Progression.
- ~8-month/34 – 35-week high (late-March ’22) – high (late-Nov ’22) – high (late-July ’23) – high (late-March ’24) – (high; late-Nov 2024) Cycle Progression.
- ~4-month/~17 – 18-week high-high-(high; late-November ’24) Cycle Progression.
- ~2-month/~8 – 9-week high-high-(high; late-November ’24) Cycle Progression.
- ~15-week low-low-high-(high; late-November ’24) Cycle Progression.
- ~5-week low-low-low-high*- (high; late-November ’24) Cycle Progression… *if the S+P Midcap rallies into October 14 – 18th.
- Back-to-back-to-back-to-back ~13-month rallies (Dec ’18 – Jan ’20, Mar ’20 – Apr ’21, June ’22 – July ’23, Oct ’23 – November 2024).
So it is possible, if it emerges as expected… the ultimate IDX peak waiting until late-Nov ’24…
Bitcoin & Ether are reinforcing intermediate bottoming signals with Bitcoin turning its intra-month trend up.
That increases the likelihood for rallies into November 2024 – the next phase of the ~8-month (& midpoint of the ~16-month) Cycle Progressions that timed the March ’24 top… [The October 3, 2024 issue of The Bridge elaborated on this outlook. Some of that Weekly Re-Lay publication will be included in the November ’24 INSIIDE Track.]”
Bitcoin is reinforcing projections for a surge to new (all-time) highs leading into November 2024. Stock indexes are corroborating that outlook, projected to first rally into October 17/18th and ultimately into late-November 2024 – with small and mid-caps likely leading the November surge.
This reinforces the overall outlook for 2024 and is providing powerful clues about related markets and events. With Gold cycles peaking in late-October ’24, the ideal time for an accelerated surge in Bitcoin is after that (see ‘Rock, Paper, Scissors’ analogy)… when ‘anti-Dollar’ competition is reduced. A final rally in Gold & Silver is now (likely) unfolding.
(Refer to October 3, 2024 The Bridge – Currency War: Rock, Paper Scissors and other special updates and reports for additional analysis.)
What Would a Bitcoin Surge into mid-November ‘24 Reveal?
How High Does Bitcoin Wave Structure Project for Wave V?
Does Projected Stock Surge into late-November Corroborate?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.