Stock Indexes Projected Surge to ~34,400/DJIA Intact. Early-Dec Cycle High in Focus.
11/19/22 Weekly Re-Lay – “Stock indices remain in strong intermediate uptrends with the DJIA on track for an overall advance to 34,200 – 34,600 or higher – a 4th quarter gain of ~20% that would fulfill the 12-Year & 24-Year Mid-Term Election Cycles…
Stock Indices remain in 1 – 2 month uptrends with the DJIA on track for an overall advance to (or above) 34,200 – 34,600 – a 4th quarter gain of ~20% that would fulfill the 12-Year & 24-Year Mid-Term Election Cycles. Weekly extreme levels (LHR) are showing the DJIA could exceed 35,000. The monthly SPR, PLLR & 21 High AMAC converge at 34,794 – 34,847/DJIA.
Based on their overall wave structure, several indexes are also likely to attack their mid-Aug highs… even if that stretches into Dec. ’22 or Jan ‘23. Others, like the NQ-100, could fall short.
On Nov 11, the DJIA, DJTA, S+P Midcap 400 & Russell 2000 turned their weekly trends up (a lagging/confirming indicator) – most of them doing that for the first time in 2022. The Nasdaq-100 cannot do the same until Dec 2, at the earliest, while the S+P 500 could do it on Nov 25 – with a weekly close above 4009/ESZ.
1 – 2 month traders could be holding long positions in the DJIA (futures or related stocks) from Oct 20/ 21 and at ~30,210 – 30,350/DJIA. Risk [reserved for subscribers]. TRADING INVOLVES SUBSTANTIAL RISK!
Stock Indexes have rallied since new bullish signals were generated on Nov 3/4 – projecting additional surges into (at least) mid-Nov and to monthly resistance levels. After surging into mid-month – with stocks initially peaking in line with a 19 – 22 day high-high-high-high Cycle Progression in the NQ-100 – stock indexes pulled back for a couple days – setting the stage for a new 1 – 2-week rally…
The NQ-100 is providing the most precise pattern, pulling back to its Nov 1 high (the high of the month-opening range & current intra-month trend support) and rising daily 21 High MAC while maintaining its daily uptrend. At the same time, the Russell 2000 and a few key stocks twice neutralized their daily uptrends – reinforcing Nov 21 is a decisive day when a new rally could/should begin.
Many key indexes also corrected right to their month-opening ranges (now support) and rising daily 21 High MACs – creating the ideal setup for a new (possibly accelerated) rally in the coming days.”
Stock indexes are fulfilling projections for the largest advance in 2022 – particularly in the Dow, expected to reach 34,200 – 34,600/DJIA by/in early-Dec ‘22. (See Oct & Nov ’22 INSIIDE Tracks for details.) Daily cycles are reinforcing analysis for a final high to stretch into late-Nov/early-Dec.
Most indexes fulfilled 9 – 12 month downside wave and price targets in Sept/Oct ‘22, projecting a subsequent higher-magnitude rally in 4Q ’22 – back to/toward their mid-Aug ’22 highs. Oct 13 & 20 buy signals corroborated! That remains the focus until (at least) early-Dec ’22 and ~34,400/DJIA.
How Long Should Late-Sept ’22 Low Hold?
Why was/is Higher-Magnitude Advance Projected for 4Q ‘22??
What Would Early-Dec ’22 Peak Signify?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.