Nasdaq-100 Leading Way; Major Bottom Forming… Strong Stock Market Rally Projected.
03/23/20 INSIIDE Track Stock Index Update: “Stock Indexes remain weak but are showing subtle signs of bottoming (on a 1 – 2 week basis) after repeatedly attacking their monthly HLS levels – the extreme downside targets for March ’20. While some leading stocks have already neutralized their daily downtrends, the indexes need daily closes above [reserved for subscribers] …
This is reinforced by the Transports retesting their 1 – 2 year downside target (triggered in Oct. ’18) at ~6,500/DJTA. Leading the way are tech stocks with the Nasdaq 100 continuing to hold the levels of its March 13/16 lows – reinforcing that a multi-week bottom is forming.
From a cycle perspective, the indexes have now fulfilled the minimum timing aspect of the 2-Year Cycle & 40-Year Cycle patterns. Both of these cycles projected sharp sell-offs from mid-Feb. ’20 (40YCprojected Feb. 12/13 peak while 2YC focused on Feb. 13 – 17) into late-March ’20.
March 23 (today) is the 2-year anniversary of the 2018 DJIA low (close) and could time something similar. Meanwhile, March 27, 2020 is the 40-year anniversary of the March 27, 1980 DJIA low – following its plunge to new multi-year lows. A low on March 23 – 25 would also fulfill a 31 – 34 day high-high-high-(low) Cycle Progression in the leading DJ Transportation Average. A sharp rebound should ensue [see current publications for ongoing analysis & new trading strategy updates]”
Stocks fulfill Stock Panic Cycles (projected for early-2020, in March 2019) as well as 40-Year Cycle and 2-Year Cycle projecting plunge into March 23 – 27, 2020 – the precise time the DJIA bottomed in 2018 AND 1980. Transports reach downside target (6,500) as NFLX & AMZN trigger decisive buy signals. Major indexes also trigger buy signals for multi-month rallies.
Nasdaq 100 & Tech Stocks Lead Way… Is Surge to New Highs Likely?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.