Stock Trading: Stocks Focused on Cycle Highs in late-April/early-May ’19. Does That Corroborate 3Q ’19 Cycle Low?
Stock Trading: Stocks Focused on Cycle Highs in late-April/early-May ’19. Does That Corroborate 3Q ’19 Cycle Low?
04/10/19 Weekly Re-Lay Alert – “Stock Indices are mixed after rallying into early-April. The DJIA & DJTA (and other indexes) pulled back into short-term cycles on April 10/11 with the DJIA twice neutralizing its daily uptrend but not yet turning its intra-month trend down. It needs a daily close below 26,071/DJIA to turn both those trends down.
The other indexes, particularly the S+P 500 & Nasdaq 100, remain in more bullish trends and have rallied steadily from their late-March pullback lows. Both turned their intra-month trends up, allowing for additional upside into mid-month.
The Russell 2000, in sync with its daily trend structure, underwent a quick 2-day sell-off, dropping right to its now-ascending daily 21 High MAC, its daily 21 High MARC support and its weekly Raw SPS and weekly support while attacking its daily HLS. Its intra-month uptrend reinforced that and projects another brief rally into mid-month.
Until daily closes below 26,071/DJIA, 2876/ESM & 7544/NQM, the 2 – 4 week trends remain up and should be respected. On balance, this overall rally is still expected to last from late-Dec. into May 2019.”
Daily & weekly trend patterns reinforcing overall outlook for equities – to bottom in late-2018 (~3.25-Year Cycle) and then see a strong, multi-month rally into April/May 2019 (weekly cycles pinpoint late-April – early-May ‘19 as ideal period for a peak) – when a significant peak is expected.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.