DJIA & S+P 500 Near 1–2 Year Targets
06/30/17 INSIIDE Track:
06-29-17 – Stock Indices remain positive, but continue to show subtle signs of topping as they complete a 17-Year Cycle from the 2000 peak and prepare to enter the dangerous period of the Decennial Cycle (in July–Oct. 2017). In sync with their daily & weekly trend patterns, most Indices rallied to new highs in June.
They were expected to see an initial drop in March–April 2017 and then a subsequent drop into late-June ’17, when the Russell 2000 had the next phase of an overlapping monthly cycle recurring and was thought (mistakenly) to have a chance of spiking to a new low (below April ‘17).
The March/April decline unfolded right on schedule, leaving what should be a multi-month low in April 2017 – perpetuating the 5 & 10-month cycles that already timed lows in Oct. ‘14, Aug. ‘15, Jan. ‘16, June ‘16 & Nov. ‘16. The June sell-off only materialized in the Nasdaq 100 as the Russell 2000 appears to have inverted and fulfilled that cycle with a contrasting high.
The overall stock market now enters the portion of 2017 when a greater synergy of long-term cycles is pointing lower and when many of the most significant historic declines have been seen. This period encompasses 3Q 2017 but also stretches into Oct./Nov. – on a general basis.
The recurring 5-month & 10-month cycles (5 months from April ‘17 low & 10 months from Nov. ‘16 spike low) could produce the first important bottom in Sept. 2017. Weekly cycles & timing indicators will have to clarify or corroborate that potential…
2017 Price Targets
Reverting back to the other Indexes, there is another critical fulfillment taking place in late-June. As described since late-Feb. (the following excerpt is from the March 2017 INSIIDE Track):
That synergy of price targets comes into play at 21,616–22,030/DJIA & 2465–2531/SPX, with a less-synergistic objective at 5414–5592/NQ…
…they represent wave targets – where the ‘5’ wave advance (since early-2016) would relate to the ‘1’ & ‘3’ wave advances of March 2009–May 2011 & Oct. 2011–May 2015. They also include the yearly LHRs (intra-year extreme upside targets)…and the yearly Raw SPRs for 2017.”
In the second half of June, the DJIA spiked up to 21,535 with the SPX reaching 2453.82. That means these indices have come within less than 0.5% of attaining those 1–2 year upside targets, an objective the NQ-100 has already reached.
Obviously, they could still spike higher but equities are in the price & time vicinity when a more significant peak could take hold at any time…
3–5 year equity traders & investors can be lightening up (20–25%) on longs & use a weekly close below [Reserved for subscribers only; See July 2017 INSIIDE Track for details]”
Stock Indices nearing upside price targets (at 21,616–22,030/DJIA & 2465–2531/SPX) as mid-2017 cycles mature. Decennial Cycle argues for July–Nov. 2017 decline, repeating an uncanny 10-year pattern, once these upside objectives have been met.
Three decisive longer-term cycles should be in negative phases by the end of July 2017 – including the 40-Year Cycle (negative in 3Q/4Q 2017), 17-Year Cycle (downturn in March 2017–Oct. 2019) & 10-Year Decennial Cycle (likely sell-off in July–Nov. 2017, potentially stretching into March 2018). See Weekly Re-Lay & INSIIDE Track for additional details.