NVDA/NQ Cycle Highs & Sell Signals Project Sharp Drop into August 2024! New Danger Zone!!

07/15/24 – “Stock indexes remain on divergent paths but have swapped sides (rotation) in recent days with the NQ-100 rallying into July 2024 and fulfilling a number of cycles and analogs (i.e 17-Year Cycle and intra-year action of 2007, 1990 & 1973) before reversing lower.

Similar to 2007, they could see overall corrections into August 2024 – the culmination of an overarching danger zone.

They are undergoing another rotation as the normally strongest S+P 500 & NQ-100 sold off while the persistently weaker DJTA, Russell 2000 & S+P Midcap 400 rallied on the heels of cooling inflation data.  At the same time, the DJUA is doing exactly what was described in mid-June, pulling back to its rising weekly 21 High MAC and then surging to new highs.

The DJIA is spiking above its March 21st and May 17/20th highs while fulfilling an ~8-week/56 – 57-day high-high-(high; July 12/15Cycle Progression.  At the same time, it is fulfilling a ~6.5-week/45-day low-low-(high; July 12/15Cycle Progression.

The S+P Midcap 400 tested its rising weekly 21 Low MAC and surged into the latest phase of a 57 – 58-day high-high-high-high-(high; July 12/15Cycle Progression while retesting its late-March ’24 high.

All of this comes at the time the overall market is poised to mirror another phase of the 17-Year Cycle… In 2007 AND 2024, the S+P 500 & Nasdaq-100 initially peaked in 1Q 2007 and then underwent a sharp 3 – 4-week sell-off.  In 2007, the S+P 500 & Nasdaq-100 subsequently rallied into July 2007 and then underwent a sharper 4 – 5-week sell-off – into August 2007.

In 2024, the S+P 500 & Nasdaq-100 subsequently rallied into July 2024 and are expected to undergo a sharper 4 – 6-week sell-off – into August 2024.  (That is also what occurred in 1990 AND 1973, the previous phases of the 17-Year Cycle.)

The Nasdaq 100 is also fulfilling multiple timing indicators focused on July 2024 for a multi-month peak.  In 2020/2021, the Nasdaq 100 surged for ~20 months before peaking.

In 2024, the Nasdaq 100 has now surged for ~20 months from its October 2022 bottom into July 2024.  That ~20-month advance was split into successive ~9-month advances that occurred 12 months apart (Oct ‘22 into July ‘23 and October 2023 into July 2024) with a pullback in between.

Stock Indices are fulfilling a web of upside targets, wave objectives, and monthly resistance levels – most notably at 5661 – 5697/ESU & 20,642 – 20,775/NQU.  As described last week, the intra-month uptrends projected rallies into ~mid-month (July 12 – 16th) and to monthly resistance levels. 

That was fulfilled and the NQ-100 has since neutralized its daily uptrend multiple times.  It needs a daily close below 20,335/NQU to turn that trend down (and close below its daily 21 High MAC) – signaling a top.”    TRADING INVOLVES SUBSTANTIAL RISK


Stock Indexes are setting decisive peaks projected for mid-July 2024, in sync with overall 17-Year Cycle analysis and parallels.  The NQ-100 is reinforcing expectations for similarities to 2007, in line with the 17-Year Cycle of Stock Market Peaks (decisive peaks in July 2007 AND July 2024).  Several timing indicators also projected a critical top for July 2024… and a sharp drop into August 2024!  That peak has (likely) just taken hold!

A key ‘proxy’ or ‘cue’ stock (a stock that often gives advanced signs of shifts in a broader market) fulfilled a (multi-month) peak projected for June 17 – 21st at/near 140.0/NVDA.  It is already pinpointing primary multi-month downside targets (below 97.0/NVDA)… that would involve a serious sell-off in this and other tech stocks leading into August ‘24.

A secondary high was projected for July 8 – 12th and was just fulfilled with uncanny precision.  It generated a new sell signal – along with the Nasdaq-100 – and should trigger a larger sell-off in that proxy stock into August 2024, taking the NQ-100 along with it… in perfect sync with the 17-Year Cycle!

 

How Does Divergent Peak on July 8 – 12th Reinforce Outlook for Sharp July/August ’24 Decline?

Why Does 17-Year Cycle of Stock Peaks Forecast Pivotal NQ + SP 500 Highs for July 2024?

Will This Corroborate the Projected 2025/26 Recession (& Stagflation) Cycle?

 

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