Stock Indexes Reinforce Early-Dec Cycle High; Projected Surge to ~34,400/DJIA Intact.

11/16/22 Weekly Re-Lay Alert – “Stock indices remain in strong intermediate 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.  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.

They entered the latest phase of their projected advances immediately after pulling back into Nov 3 and maintaining their overall bullish posture and daily uptrends.  They quickly turned their intra-month trends up – projecting rallies into (at least) mid-Nov and up to (at least) monthly resistance.  That has now transpired.

Corroborating that, the DJIA, DJTA, S+P Midcap 400 & Russell 2000 turned their weekly trends up… most of them doing that for the first time in 2022!  The Nasdaq-100 cannot do the same until Nov 25, at the earliest.  In contrast, the S+P 500 could do it on Nov 18 – with a weekly close above 4009/ESZ.

This action adds strong validation to projections for late-Sept/early-Oct ’22 to produce a multi-month low and trigger the largest (and potentially longest) advances in 2022.

They have initially peaked at mid-month (also during the latest phase of a 19 – 22 day high-high-high-high Cycle Progression in the NQ-100 – that could produce another high on Dec. 5 – 7, ‘22) but have not yet signaled a top or a reversal lower.  Combined with unfolding price action, that leaves the potential for further upside in the coming days.  S+P 500 daily cycles – converging on Nov 21 – 23 – corroborate.

As always, price action is the ultimate filter!

Until these indexes close back below their Nov 1 highs (33,071/DJIA3928/ESZ & 11,619/NQZ) – which would neutralize the prevailing intra-month uptrends – they remain positive and could extend these advances.  The daily trends concur.

If a multi-month bottom is intact, as is the ongoing analysis, daily cycle highs will hold for shorter amounts of time and give way to new rallies (into the next phase of those cycles) after smaller pullbacks.

That is why cycle lows are more dependable in an uptrend and cycle highs are more dependable in a downtrend.  (This also contributes to an old adage of cycles and trends: In an uptrend, cycle highs shift to the right; In a downtrend, cycle lows shift to the right.)

One of the reinforcing price factors is an ongoing series of trading ranges in the NQ-100.  Its recent break out of a lower range increases the potential for a rally to [reserved for subscribers]…

1 – 2 month traders could have entered long positions in the DJIA (futures or related stocks) on Oct 20/21 at 30,210 – 30,350/DJIA and be holding these.  Risk [reserved for subscribers].”  TRADING INVOLVES SUBSTANTIAL RISK!


Stock indexes are reinforcing projections for the largest advance in 2022 – particularly in the Dow, expected to reach 34,200 – 34,600/DJIA by/in early-Dec ‘22… even as tech stocks & the NQ-100 lag.  (See Oct & Nov ’22 INSIIDE Tracks for details.)  Daily cycles are reinforcing analysis for a final high to stretch into 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.