Stock Trading: Indexes Fulfilling Projected Advances into Nov. ’19; Primary Indexes Remain Strong… Price Action Needs to Corroborate Cycles.
11/16/19 Weekly Re-Lay: “Stock Indices have fulfilled almost all of their potential – stemming from the late-Aug. cycle low (a low that should hold for 3 – 6 months or longer) and the early-Oct. secondary low. They have rallied into Nov. ’19, perpetuating a ~7-month low (July ’17) – low (Feb. ’18) – high (Sept. ’18) – high (April ’19) – high (Nov. ’19) Cycle Progression…
The reason for expecting a peak in this time frame, however, is multi-faceted – also linked to the weekly LHR indicator. While this pattern would allow for a high to stretch into Nov. 18 – 22, it was the synergy of cycles leading into mid-month that focused attention on Nov. 11 – 15. The inversely-correlated weekly 21 MARCs also factored into that analysis as they were likely to be a positive force in the first half of the month and then shift to a neutral-to-negative force soon after…
While equities have now fulfilled all of these upside timing factors, they would not signal reversals lower until daily closes below 27,585/DJIA, 3075.5/ESZ & 8190/NQZ. Until those occur, the trends are up and should be respected.”
Stock indexes are fulfilling projections for a strong advance from late-Aug. (when multi-month & multi-year cycles projected a 3 – 6 month or 6 – 12 month bottom) into Nov. 2019 – the latest phase of a ~7-month low-low-high-high-(high) Cycle Progression. That ~7-month cycle also portends an ensuing high in ~June 2020.
Key (‘proxy’) stocks and leading indexes (DJTA) triggered 1 – 2 week sell signals on Nov. 5 – 9 and portend an initial drop into Nov. 21/22. However, the DJIA, S+P 500 & Nasdaq 100 remain strong and continue to rally.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.