Stock Market ‘Proxy Stock’ (NVDA) Pinpoints First Downside Target; Portends NQ-100 Drop.

06/29/24 – “Stock indexes remain mixed with the potential for a new sell-off in July… An initial low – in the coming week – would corroborate that potential.

More important are diverse price indicators & targets…With NVDA peaking at upside targets (133.50 – 142.75) and in sync with its ~44-week low-low-(high; June 17 – 24, 2024Cycle Progression – while completing successive rallies of equal duration – it could drop to ~96 – 97.00 in the coming weeks…

1 – 3 month & 3 – 6 month traders could have exited a portion of long positions, anticipating a sell-off that could stretch into xxxxx 2024.    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!

A key ‘proxy’ or ‘cue’ stock (a stock that often gives advanced signs of shifts in a broader market) has fulfilled a (multi-month) peak projected for June 17 – 21st at/near 140.0/NVDA.  It is already pinpointing primary multi-month downside targets (below 100.0/NVDA)… that would involve a serious sell-off in this and other tech stocks leading into August ‘24.

When will NQ-100 peak and begin a similar descent?  Watch 17-Year Cycle!

 

How Does Developing Peak in ‘Proxy Stock’ Reinforce Outlook for 3Q ’24 Decline?

Why Does 17-Year Cycle of Stock Peaks Forecast Pivotal NQ + SP 500 Highs for July 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.