Stock Trading: Equities Remain on Track for Overall Rally into Nov. 11 – 15! Early-Oct. Cycle Low Taking Hold… How High Could Next Advance Surge?
10/05/19 Weekly Re-Lay: “Stock Indices fulfilled a primary expectation from their cycle highs on Sept. 13/16. The DJTA, which led the reversal lower in mid-Sept., attacked its late-Aug. low, fulfilling its weekly trend pattern and ushering in the potential for an initial low.
In contrast, the primary indexes remain in more positive weekly trend structures that still argue for Nov. 11 – 15 – the next decisive convergence of intermediate cycles, to time an important peak. They also projected lows on Oct. 2/3 and rebounds from there.
Stock Indices fulfilled the latest intermediate swing, selling off from cycle highs in mid-Sept. – when the Transports projected a quick plunge back to their late-Aug. low. They needed to complete that decline before the weekly 21 MARCs could exert a bullish influence – most likely within 1 – 2 weeks.
The Transports fulfilled that downside objective, plunging back to retest their late-Aug. low near 9,700/DJTA… The timing for an initial equity index low was honed by the daily trend action in the DJIA and NQ-100.
The DJIA (& NYA) joined the S+P 500, DJTA, DJCA and other indicators in turning their daily trends down (a lagging, confirming indicator) on Oct. 1. That projected a low and reactive bounce to take hold in the ensuing 1 – 2 days. The NQZ joined in on the following day, turning its daily trend down on Oct. 2 as the DJIA & ESZ were attacking their weekly extreme downside targets (HLS)…
Stock indexes have rallied sharply after fulfilling, and potentially completing, their mid-Sept. sell signals and cycles. The Transports, which led the reversal lower, fulfilled their primary downside target by attacking their late-Aug. low as other indexes signaled lows. Combined with multiple signals projecting an Oct. 2/3 low and reversal higher, the indexes bottomed (Oct. 3) and then rallied sharply.
Most of the indices have neutralized their daily downtrends (once) and are nearing/attacking their descending daily 21 Low MACs.”
Stock indexes complete mid-Sept. sell signals. DJ Transports attack downside targets and signal likely 1 – 2 month low in early-Oct. Primary indexes project continuation of overall rally (from late-Aug. low) – that is still projected to last into Nov. 11 – 15 before the next significant peak. How are weekly trend signals projecting rallies to new highs?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.