Stock Market Rally: Indexes Remain on Track for Advance into (Ideally) Nov. 11 – 15! What Could Trigger Mid-Nov. Reversal Lower?
10/30/19 Weekly Re-Lay Alert: “Today’s Fed action and the resulting Dollar reaction (actually, there were about three opposing reactions) reinforce the pivotal time for Currency Wars that has arrived. This could/should ultimately have a profound impact on many other markets…
Stock Indices are fulfilling multi-month expectations, rallying into Nov. 2019 when a multi-month peak is expected. They have just entered a 5-week period when their inversely-correlated weekly 21 MARCs will surge – a factor that could soon become a negative influence (likely around mid-Nov.).
A peak on Nov. 1 – 15 would fulfill a myriad of weekly and monthly cycles with some indexes arguing for a peak this week. If the DJIA tests and holds its weekly LHR this week (27,281/DJIA), it would reinforce the likelihood for an imminent, intermediate peak (that could take hold as high as ~27,700).
The ESZ & NQZ have fulfilled their weekly trends, fulfilling another key component for a developing peak.
For now, the daily trends are up until daily closes below 27,010/DJIA, 3021.5/ESZ & 7995/NQZ.”
Stock indexes remain on track for an overall ~2.5-month advance (from late-Aug.) into Nov. 11 – 15 – the ideal time for the next multi-month peak. Decisive upside price targets are corroborating this outlook and likely to be tested by Nov. 8/11. How high could equities spike?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.