Stock Indexes Trigger Weekly Trend Signal; Surge into early-Dec/~34,400/DJIA Likely.
11/12/22 Weekly Re-Lay – “Stock indices remain in strong intermediate uptrends with the DJIA on track for an overall advance to 34,200 – 34,600 – 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…
Stock Indices entered the latest phase of their projected advances immediately after pulling back into Nov 3 and failing to turn their daily (or intra-month) trends down. Once again, the CPI report triggered a strong rally – reinforcing the overall outlook for powerful Oct/Nov surges in equities.
Corroborating this, 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!
This action adds strong validation to projections for late-Sept/early-Oct ’22 to produce a multi-month low and trigger the largest advances in 2022…
Nov 14 – 16 is also the next phase of a 19 – 22 day high-high-high-high Cycle Progression in the NQ-100.
This ongoing surge is fulfilling the combination of an uncanny ~12-Year Mid-Term Election Cycle – timing 10 – 20% gains in 4Q of mid-term election years – and a corresponding ~24-Year Cycle (1974 – 1998 – 2022) that has timed ~20% gains.
A ~20% gain was/is most likely in 2022 – also seen in 1998 & 1974 – and would take the DJIA back to ~34,400/DJIA… right where the synergy of many related bullish upside targets (including the mid-Aug ’22 high) converge.
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 have rallied after selling off into Nov 3 and twice neutralizing their daily uptrends in the process (but not turning those trends down). That fulfilled a pair of patterns necessary to trigger a new advance, confirmed with the action of Nov 4 when those indexes generated daily trend buy signals.
At the same time (Nov 3/4), many indexes and stocks (S+P 400 & 500, Russell 2K, DJTA, etc.) pulled back to rising daily 21 MAC support and reversed higher, triggering corroborating signals. They then turned their intra-month trends up – reinforcing the outlook for rallies into mid-Nov and up to monthly resistance levels.”
Stock indexes are confirming the Nov 3 lows and reinforcing projections for the largest advance in 2022 – particularly in the Dow, capable of reaching 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)
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!
How Does Late-Sept ’22 Low Reinforce Overall 2022/2023 Outlook?
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.