NQ-100 Reinforces March 13/14 Low; Rallies to 13,800 – 14,000/NQ & 4300 – 4350/ES Likely.

03/22/23 Weekly Re-Lay Alert – “Stock Indexes are widening the divergence that has prevailed throughout the past year, most salient at multi-month highs and lows.  A perfect example involves the disparity between the Russell 2000 (currently the weakest index) and the NQ-100 (currently strongest).

On March 20, the Russell 2000 spiked to new 5+-month lows and to its lowest level of 2023 (down about 3% on the year).

On March 22, the NQ-100 spiked to new 6+-month highs and to its highest level of 2023 (up about 14% on the year)… both occurring in the same week.

The Russell 2000 is perpetuating a ~3-month/~90-degree high (Mar ’22) – low (Jun ’22) – low (Sept ’22) – low (Dec ’22) – (low; late-March ’23) Cycle Progression that produced intermediate turning points in the final two weeks of each respective month (usually between the 20th and 26th of that month) and could produce a multi-week low this week – 3 years from the 2020 lows.

In contrast, the NQ-100 has surged since fulfilling multiple cycles and retracement targets on March 13 – and has been on track for a rally into late-March/early-April ’23.  At the time, the NQ-100 pulled back to the rising weekly 21 High MAC while retracing 50% of its Jan/Feb rally – reinforcing range-trading support and other key levels of support near 11,800 – 11,900/NQM.

It spiked lower into March 13 – perpetuating a ~1-month/~30-day low (Oct 13/14 ’22) – high (Nov 13/14 ’22) – high (Dec 13/14 ’22) – high (Jan 13/14 ’23) – high (Feb 13/14 ’23) – low (Mar 13/14 ’23) Cycle Progression that corroborated an ~11-week low-low-(low) Cycle Progression and signaled a multi-week low… the S+P 500 is in a more constructive 1 – 2 week pattern that could produce a secondary low on March 23/24 and then a second rally into late-March/early-April ’23.

That would be reinforced if the NQ-100 tests and holds ~12,600/NQM in the coming day(s).

As long as the NQ-100 does not close below 12,462/NQM (high of month-opening range), it would remain on track for a rally into the next phase of a ~2-month/~60-degree high-high-high-(high) Cycle Progression that recurs on April 3 or 4.

As far as price objectives, the NQ-100 nearly reached its initial upside target (~13,200) and maintains the potential to rally as high as 13,500 – 13,800 – the mid-Aug ‘22 high and corroborating upside targets – and possibly above 14,000/NQM.”

Stock indexes remain on track for projected surges above 13,800/NQ & 4300/ES.  Reinforcing this outlook, the Russell 2000 – which has been the weakest index in recent months – is fulfilling multi-month cycle lows and preparing for a subsequent ~3-month rally.

Those upside price targets – and corresponding cycles – should reveal a great deal about what to expect leading into key cycles in late-July/early-Aug ’23 – when future lows are expected.  In the interim, March 13/14 cycle lows projected quick surges into late-March/early-April ‘23.

What Does 1Q ’23 Action Reveal About 4Q ’22 (Bullish) 4-Shadow Signal?

What Does Russell 2000 ~3-Month/~90-Degree Cycle Progression Portend?

How Soon are Projected Tests of ~14,000+/NQ & ~4300 – 4350/ES Likely?

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.