Stock Market & 17-Year Cycle; Mid-June ’24 Lows & July ’24 Highs to Set Stage.
06/06/24 – “Stock indexes are continuing their divergence – as part of the overall outlook for the return of the 17-Year Cycle of Stock Market Declines in 2024/2025 – with the Russell 2000 and DJTA remaining in multi-month corrective phases as the NQ-100 remains strong, the S+P 500 traces out a top (after spiking down to its weekly HLS), and the DJIA sells off from a double top.
The DJIA just bounced to its now-declining daily 21 Low MAC and remains below it, pinpointing June 7th as a pivotal day (when a new decline could begin).
Stock Indices are expected to see new sell-offs into June 17 – 28th (June 18 – 20th = most synergistic) but the new intra-month trends could be the determining factor.
The DJTA’s latest high reinforces the focus on the week of June 17 – 21st (strongest focus now pivoting slightly to June 20th) as the ideal time for an initial culmination in selling for the Transportation Index. The Russell 2000 and S+P Midcap 400 are set up in a similar fashion and could exert a bearish influence on the stronger indexes leading into that cycle low.
The DJIA has been showing signs of a developing multi-month peak but needs a weekly close below 38,000/DJIA to turn its weekly trend down and confirm that potential. If that waits until June 14th to occur, it would generate a pair of corroborating and contrasting signals – reinforcing the potential for a multi-week low on June 17 – 21st while simultaneously portending another (future) decline after an intervening bounce…
1 – 3 month & 3 – 6 month traders could have exited a portion of long positions in March, anticipating a sell-off that could stretch into… mid-June 2024. The Weekly Re-Lay will update changes and signals in the shorter-term trends.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes are moving toward decisive peaks projected for July & October 2024, in sync with overall 17-Year Cycle analysis and parallels. The NQ-100 is reinforcing expectations for similarities to 2007, in line with the 17-Year Cycle of Stock Market Peaks (successive highs in 1Q ‘24, July ‘24, and then October ’24 projected). Several timing indicators project a critical top for July 2024!
The DJTA & Russell 2000 maintain the likelihood for additional lows in ~mid-June – the time when a multi-month bottom is most likely and when this latest corrective period should culminate… leading to new rallies into July ‘24. The DJTA is focused on June 17 – 21st for a bottom. The Russell 2000 concurs – with a decisive low expected on ~June 18/20th. The DJIA and other indexes concur.
How Does Current Sell-off Set Stage for Larger 3Q ’24 Decline?
Why Does 17-Year Cycle of Stock Peaks Forecast Pivotal Highs for July & October 2024?
Will This Corroborate the Projected 2025/26 Recession (& Stagflation) Cycle?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.