Stock Indexes Projecting Peak Near ~34,400/DJIA in Late-Nov/Early-Dec.

11/26/22 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

On Nov 11, the DJIA, DJTA, S+P Midcap 400 & Russell 2000 turned their weekly trends up (lagging indicator).  The S+P just did the same on Nov 25 (while also closing above its now-rising weekly 21 High MAC).  The NQ-100 cannot do that until Dec 2, needing a weekly close above 12,118/NQZ.

The Russell 2000 continues to trace out a multi-month trading range – trading from its mid-April ’22 high (when the DJIA peaked and signaled a new dangerous period in the weeks to follow) to its mid-June low, then back up to its mid-Aug high (same as mid-Apr high), then down to its late-Sept/mid-Oct low (same as mid-June low), then back up.

Multi-month resistance comes into play around 2030 – 2060/QRZ – its mid-Aug & mid-Apr ’22 highs.  That is also where the Oct & Nov ’22 monthly LHRs (extreme monthly upside targets) converge.  4 of the latest 5 weekly LHRs concur…

1 – 2 month traders could be holding positions in the DJIA (futures or related stocks) from Oct 20/21 (at ~30,110 – 30,450/YMZ or DJIA) w/avg open gains of ~$20,000/contract.  Risk [reserved for subscribers].”  TRADING INVOLVES SUBSTANTIAL RISK!


Stock indexes are fulfilling projections for the largest advance in 2022 – led by the Dow, which is projected to reach 34,200 – 34,600/DJIA in late-Nov/early-Dec ‘22.  (See Oct & Nov ’22 INSIIDE Tracks for details.)  Daily cycles are reinforcing analysis for an intermediate high to stretch into that time.

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 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.