Stock Indexes Poised for Rally into October 17/18th… and Then…
10/02/24 – “Except for the DJIA, the majority of indexes have twice neutralized their daily uptrends while pulling back into the opening days of October (the same time of month that lows were set in August & September). It would take daily closes below the October 1st/2nd lows to turn those daily trends down.
Immediately after tomorrow, the intra-month trends will also be closely monitored. It would take daily closes below the October 1st – 3rd lows to turn those intra-month trends down and project additional selling… potentially into mid-October.
However, the opposite is equally true.
If they do NOT turn their intra-month trends down, stock indexes would increase the likelihood for additional upside – potentially into mid-month. That is in sync with ongoing geometric cycles in the DJIA…
The DJIA has a very intriguing geometric cycle that comes back into play in mid-October 2024 and is the ideal time – at least for the DJIA – to set a multi-month peak. A ~3-month cycle dates back to its mid-October ’22 bottom, after which it timed peaks in January, April & July 2023.
That was followed by a ~3-month decline into the middle half of October ’23 – when another 6 – 12 month bottom was set.
From there, the DJIA traced out a ~3-month/~13-week low – low (Jan 17) – low (Apr 17) – high (July 17/ 18, ’24) Cycle Progression – projecting a future peak for the middle of October… ideally October 17/18, 2024.
A corroborating ~10-week low-low-(high?) and ~5-week low-low-(high?) Cycle Progression also converge during the week of October 14 – 18, ’24..” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes remain strong and are reinforcing future cycles in mid-October & late-November 2024. The NQ-100 is showing signs of lagging that could impact the levels for the next significant peak. The 17-Year Cycle remains focused on 4Q 2024 as the most likely time for a major peak but price action needs to hone when and where that is most likely.
In the near-term, many indicators are projecting a new rally into October 17/18th – when a multi-week high is likely. At least one related cycle reinforces future focus on late-November for a subsequent peak.
How are Cycle Highs in Mid-October & late-November ’24 Connected?
What Does the 17-Year Cycle of Stock Peaks Portend?
Will This Coincide with Election Cycles and the Outlook for US Dollar?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.