Stocks Complete Rallies into Nov 22 – 24th; Project New Surge into Jan 2024.
11/25/23 – “Stock indexes fulfilled projections for a rally into Nov 22/24 as part of overall advances into mid-Dec ’23 and ultimately into Jan ’24. The NQ-100 remains the strongest and could ultimately (by or in Jan ’24) set new all-time highs…
Stock Indices remain strong and in multi-week uptrends after fulfilling a powerful combination of bullish weekly trend patterns, weekly HLS levels, timing retracement levels, and daily cycles – all projecting a 1 – 2 month (or longer) bottom in late-October ‘23.
At the time, the DJIA provided another textbook example of wave equivalence – in price AND time – completing a decline of 12 – 13 weeks and ~3,300/ DJIA points in late-October ‘23 (just as it had done in Dec ’22 – March ’23). That forecast an intermediate rally into Nov 22/24, 2023 before a multi-week high would become more likely.
Reinforcing the potential for an impending high, the DJIA & S+P 500 just turned their weekly trends back up on November 24th, a lagging signal that often is triggered at or near the culmination of an initial multi-week rally. The Nasdaq-100 needs a weekly close above 16,049/NQZ to do the same.
On a larger scale, it is still expected to prompt an overall rally into January 2024… particularly in the stronger NQ-100 & S+P 500 indexes (which are still likely to exceed their 2023 highs – and possibly their 2021/22 highs – before peaks are set)…
The DJIA surged above 35,100, exceeding the magnitude of the previous rally and reinforcing unfolding strength. All of this could spur a brief pullback followed by a new rally into ~mid-Dec ’23.”
Stock Indexes are reinforcing multi-week buy signals, generated after fulfilling a myriad of downside price & timing objectives, wave targets, and cycles converging on Oct 27/30, ‘23. That has ushered in the projected 4Q 2023 advance – likely lasting into January 2024.
Is Another October – January Advance Unfolding?
How Would This Impact Outlook for 2024/2025?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.