Stock Market Trading: Stocks Near Time for New Advance (Likely to Last into late-April/early-May ’19).
Stock Market Trading: Stocks Near Time for New Advance (Likely to Last into late-April/early-May ’19).
03/13/19 Weekly Re-Lay Alert: “Stock Indices fulfilled expectations for an initial drop into March 8 and a multi-day rally from there. The daily trend patterns in the ESM & NQM projected rallies back to the highs while the DJIA & DJTA projected ‘b’ wave bounces…
Both the DJIA & DJTA turned their daily trends back up, reinforcing the recent lows (while identifying the coming days as a likely time for a short-term peak and reactive sell-off)…
The weekly 21 MARC is corroborating that potential and could exert a new bullish influence – following that anticipated low – if the Transports bottom above 9,800… and do it without turning their weekly trends down. (The higher that low occurs, the more underlying strength would appear in all the indexes…That would then set the stage for the next phase of an overall equity advance into early-April ’19 and potentially into May 2019 – the next phase of a consistent ~8-month cycle in several other indexes.
In the interim, the Nasdaq 100 could easily spike up to the synergistic convergence of weekly LHRs (extreme upside target for this week) at 7355 – 7406/NQM. That is where all four of the latest four LHRs exist and it also overlaps monthly resistance as the indexes enter mid-month – when a 1 – 2 week top becomes more likely.”
Stocks remain in a corrective phase that could stretch several weeks before a new leg higher. This remains in the broader context of equities projected to set 3 – 6 month or 6 – 12 month lows in late-2018 and then see a strong, multi-month rally into May 2019 (weekly cycles pinpoint late-April – early-May ‘19 as ideal period for a peak) – reinforcing 40-Year Cycle parallels.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.