Stocks & Déjà vu (to Nov 2021); Divergent Highs Likely ~November 25th
11/19/24 – “Stock Indices are showing some similarities to November 2021, particularly in the Russell 2000. The Russell 2000 peaked exactly where it did in Nov 2021 at ~2460/QR. So, too, did the related ETF (IWM) – briefly spiking above 240/IWM as it did in November ’21.
It peaked while fulfilling converging ~4-week high-high-high-(high; November 11/12th) & ~1-month low-low-low-low-(high; November 11 – 13th) Cycle Progressions.
The recent peak fulfilled ~8-month high-high-high-(high) & ~12.5-month low-low-low-(high) Cycle Progressions in diverse indices. It also fulfilled a 17 – 18-week high-high-(high) Cycle Progression. In some instances and indexes, price action concurred.
The NQ-100 retested its July peak while fulfilling the 1 – 2 month outlook for a rally back to ~21,200/NQZ – precisely the scenario that had been forecast for that index the past two months…
It has initially fulfilled that (with a peak on November 11th – exactly 4 months from it July 11th high) – and experienced a quick, sharp drop. However, it would not turn its daily trend down until a daily close below 20,405/NQZ. Until that occurs, there remains the chance for a final spike high.
The DJTA peaked while fulfilling its upside range target near 17,600 – doubling the previous rally from ~15,600 – ~16,600 (part of its overall ~5-month advance from ~14,600). That low followed the October ’23 low near 13,600, where the Transports repeatedly found support, helping to form this overall range-trading sequence.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes surged into Nov 11/12th and set initial highs. A set of subsequent (divergent?) highs are expected during the greatest synergy of diverse cycles on ~November 25th. The 17-Year Cycle also remains focused on 4Q 2024 as the most likely time for a major peak in equities.
The S+P Midcap 400 remains the leader in this move and was projected – in early-October – to lead an overall surge into late-November ’24 – when a more significant peak is a higher probability (though price action would need to validate).
Stocks Positive into October 17/18th, Then Late-November; S+P 400 to Lead Way Higher
November 22/25th is the greatest synergy of cycles but key indicators will need to clarify if/when a late-November top is forming.
How High Could November Surge Reach?
Why is S+P Midcap 400 Leading Projected Surge into Late-November?
Is Russell 2000 Range Target Revealing Additional Clues?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.