Stocks Confirming Oct 27/30 Cycle Lows… Project Rally into January 2024.

11/01/23 – “Stock Indices are rebounding in sync with weekly trend reversal patterns, weekly HLS levels, timing retracement levels, and daily cycles in diverse indices.  One example is the NQ-100, which was expected to bottom on Oct 25 – 27 and then see a quick, sharp rally…

It spiked down to monthly support on Oct 26 while perpetuating a series of lows on 1-month/30-degree intervals, including previous lows on April 25, May 24, June 26/27, Aug 25 & Sept 26/27.

Based on the weekly HLS pattern, the ideal time for a low and reversal higher was Oct 27/30.

Similarly, the Russell 2000 completed a .618 retracement in time (19 wks up, 12 wks dn) on Oct 27 and has swung in ~90-degree/~3-month moves from its early-Feb peak to early-May low (close) to late-July/early-Aug high to late-Oct ’23 (Oct 27/30) – increasing the likelihood for a low.

It bottomed on Oct 27 and reversed higher on Oct 30

Oct 27th was also the time the DJIA fulfilled a .618 retracement in time, a ~90-degree decline, & matches the duration of its Dec – Mar ’23 decline (92 days).

It bottomed on Oct 27 and reversed higher on Oct 30… 

All of this remains in the context of a few important expectations:

— Stocks would peak in late-July/early-August ’23 and enter a vulnerable ‘danger period’… The Russell 2000 – and others – would complete their 6 – 12-month, ‘B’ wave rallies in late-July/early-Aug ’23…Stocks would set a subsequent multi-month peak in January ’24, with some indexes capable of spiking to new rebound/’B’ highs (above their 2023 highs).”


Stock Indexes have fulfilled a myriad of downside price & timing objectives, wave targets, and cycles converging most synergistically on Oct 27/30, ‘23.  That should usher in the projected 4Q 2023 advance – likely (ultimately) lasting into/through January 2024.  Initial reversal signals have been triggered with confirming ones needed to follow.

 

What Would Confirm Multi-Month Bottom in Equities?

Is Another October – January Advance Destined to Unfold?

 

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.