Stock Market Outlook: Stocks Strengthen Outlook for Overall Rally into late-April/early-May ’19. What Does That Reveal for 3Q 2019??
Stock Market Outlook: Stocks Strengthen Outlook for Overall Rally into late-April/early-May ’19. What Does That Reveal for 3Q 2019??
04/13/19 Weekly Re-Lay – “Stock Indices continue to swing between daily cycle highs and lows as the overall trend remains up, fulfilling the 3 – 6 month outlook for an overall advance from late-Dec. into May 2019 – when a host of weekly & monthly cycles peak (in domestic and global equity indexes).
The DJIA & DJTA remain strong after setting intermediate lows in sync with daily cycles, on March 25/26, and while twice neutralizing their weekly uptrends (projecting more upside)…
Stock indexes fulfilled analysis for a pullback into April 10, perpetuating daily cycles and fulfilling the daily trend pattern in multiple indexes. During that pullback, the DJIA twice neutralized its daily uptrend but did not turn that trend nor its intra-month trend down (a microcosm of what the DJIA & DJTA had just done on a weekly basis).
The Russell 2000 was similar and experienced a quick 2-day sell-off, dropping right to its ascending daily 21 High MAC, its daily 21 High MARC support and its weekly Raw SPS and weekly support while attacking its dailyHLS. Its intra-month uptrend reinforced that and projected a rally into mid-month.
The DJ Transports fulfilled last week’s forecast for a quick drop into the latest phase of an 11 trading-day cycle that had timed the Jan. 3 low, Jan. 18 high, Feb. 5 high, Feb. 21 high, Mar. 8 low & Mar. 25 low. The DJIA spiked lower into April 11 and tested its ascending daily 21 High MAC, spurring a new rally. That, and intra-month uptrends, reinforce the outlook for rallies into the coming week…”
Daily & weekly trend patterns reinforcing overall outlook for equities to bottom in late-2018 (~3.25-Year Cycle) and then see a strong, 4 – 5-month rally into April/May 2019 (weekly cycles pinpoint late-April – early-May ‘19as ideal period for a peak) – when a significant peak is expected.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.