Stocks Diverging; DJIA S+P 500 & NQ-100 Project Surges to 1 – 2 Year Upside Targets!
01/11/24 – “Stock Indices are mixed after selling off in the opening days of January but NOT turning their new intra-month trends down. That pullback occurred after the NQ-100 (and others) fulfilled its ~2-month cycle and surged from October 26/27th into December 27th.
(That cycle should time a future high in late-February but corresponding specifics for that high are [reserved for subscribers].)
The DJTA, Russell 2000 and S+P Midcap remain near their lows and could spike to new lows during the intra-month period… even as the DJIA, S+P 500 & NQ-100 have rallied and could spike to new highs in the coming days.
The action surrounding mid-month – and whether those stronger indexes turn their intra-month trends up by then – should help [reserved for subscribers]…
On a 1 – 2 year basis (from its 2022 low), the DJIA remains on track to ultimately reach its multi-year LLH (39,107/DJIA) – ideally in January ’24 – and fulfill a major upside objective created by its 2020 & 2022 lows. That level is reinforced by a multi-year range target at 39,000 – 39,200/DJIA.
On a broader basis, stocks had been forecast to undergo an overall rally from… their late-October buy signals, a myriad of daily & weekly cycles, and the latest phase of an uncanny ~24-Month/~2-Year Cycle.
In 2017/18, stocks rallied strongly from Oct ’17 into Jan ’18.
In 2019/20, stocks rallied strongly from Oct ’19 into Jan ’20.
In 2021/22, stocks rallied strongly from Oct ’21 into Jan ’22.
And in 2023/24, stocks began a strong rally in October ’23 and extended it into Jan ‘24…
Looking out a little farther… Based on the 17-Year Cycle, another 25 – 35% (or larger) decline is expected in 2024/2025. The 2-Year Cycle adds some corroboration.
With recent phases of the 17-Year Cycle – in 2007 and 1990 – timing final peaks in the second half of the year, 2024 has the potential to resemble the 2-Year Cycle of 2018 if early-year price action corroborates… and if it is going to resemble 2007 & 1990. In that case, a 6 – 9-month peak was set in January 2018 and then retested in Sept/Oct 2018, before a sharper sell-off.
(In both cases, the 2-Year & 17-Year Cycle merely provide a very general backdrop for what can be expected. Price action and technical indicators are used to validate, and/or negate, various aspects of those broad cycles and to hone the more specific outlook.)”
Stock Indexes remain strong and fulfilled the projected 4Q 2023 advance, stemming from intermediate buy signals triggered after they fulfilled downside price & timing objectives on Oct 27/30, 2023. Additional highs are still expected in January 2024 – likely stretching into month-end – in order to fulfill the latest phase of the uncanny 2-Year Cycle in January/February 2024.
The DJIA is projected to surge to (potentially above) 39,100 as the S+P 500 and NQ-100 attack their respective 1 – 2 year upside targets (stemming from multi-year bottoming signals in late-2022).
Will DJIA, S+P & NQ-100 Reach ~2-Year Upside Targets (from late-2022)?
Why is April/May 2024 Pivotal for Stocks?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.