S+P Midcap, DJTA & Russell 2000 Signal Multi-Month Peak; Initial Sell-off into Dec ???
11/30/24 – “Stock indexes have fulfilled a series of highs projected for Oct 17/18, Nov 11 – 13th and ultimately Nov 22/25th… and now enter a broader time of uncertainty.
For the past two months, the focus has been on that final cycle – in late-Nov ’24 – to complete a topping phase with the S+P Midcap 400 possessing the greatest synergy of cycles in late-Nov, revealing that small and midcap stocks would likely lead an OctNov ’24 surge. A multi-month top could now take hold…
Stock Indices have fulfilled the final phase of what was described for a topping process – most notably a trio of divergent highs, first on Oct 17/ 18th, then on Nov 11 – 13th and finally on Nov 22/ 25th. Throughout that process, the S+P Midcap 400 was forecast to lead that overall advance and wait until Nov 22/25, 2024 to peak.
Though it has fulfilled all of the upside timing targets, topping precisely on November 25th, the S+P Midcap 400 would not signal a reversal lower until a daily close below 3300/IDX.
For the past two months, the focus has been on that final cycle – in late-Nov ’24 – to complete a topping phase and usher in the time when broader-based selling and a multi-week (instead of just multi-day) decline would become a much higher probability in the weeks/months to follow.
The attainment of key, corresponding price targets also showed signs of exhaustion in the rally(s) that led to this point… The potential for a large correction is now increasing with each passing day as a result of most extreme upside targets – in price and time – being fulfilled in diverse stocks and indexes.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes fulfilled the October/November outlook and rallied into November 25th when the S+P Midcap & Russell 2000 likely set decisive peaks as they attacked & held major upside range-trading targets near 3400/IDX & 2460/QR. The DJTA is similar (~17,600 target). (S+P 500 & NQ-100 are distinct and have slightly higher targets.) The 17-Year Cycle also remains focused on 4Q 2024 as the most likely time for a major peak in equities.
In early-October, the S+P Midcap 400 was projected to lead an overall surge into late-November ’24 – when a more significant peak is a much higher probability. The greatest synergy of those cycles – reiterated many times in our publications – was on November 22/25th and represented the ideal time for the small and midcap indexes to set pivotal peaks and usher in a sharp (initial) 3 – 4-week drop.
Stocks Positive into October 17th/18th, Then Late-November; S+P 400 to Lead Way Higher
Cycles and timing indicators are already identifying a pair of likely time frames when the sharpest sell-offs are more likely… and when future lows are expected. The first one arrives in December ‘24!
Why are S+P Midcap, DJTA & Russell 2000 Projecting Declines After November 25, 2024?
How is Russell 2000 Range Target Signaling Déjà vu to November 2021?
How are Major Range Targets in DJTA, IDX AND RUT Validating a Top?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.