Late-June Cycle Low = Stock Focus
05/21/16 Weekly Re-Lay:
“Stock Indices fulfilled the first phase of an expected late-April-to-late-June-decline – the initial drop into May 16–20th… Stock Indices fulfilled the intermediate outlook for an initial decline from April 19/20th – the latest phase of a 19–20 week low-high-high-high-(high) Cycle Progression in the NQM, as well as corroborating cycles in other Indices – into May 16–20th.
The DJIA did not quite reach its initial downside target (for May) – at 17,076–17,178/DJIA – bottoming at weekly & monthly support before bouncing. While that range does not hold the same synergy for the coming week, it still includes the key indicator (monthly HLS at 17,178) that could be tested at any time before month-end.
The coming week’s LLS is at 17,150/DJIA, adding a little bit of synergy.” Stock Indices are in the midst of the next phase of expectations for 2016 – a decline from late-April into late-June, when a 5 & 10-Month Cycle portend an important bottom.