Stocks Fulfill Jan. – March ’18 Sell-off Analysis.
Stocks Fulfill Jan. – March ’18 Sell-off Analysis.
03/30/18 INSIIDE Track: Equity markets peaked in late-Jan., the culmination of 5-month & 10-month Cycle Progressions. That was projected to trigger an initial decline through March 2018…
Stock indexes have corrected since fulfilling the latest phase of the 5-month Cycle Progression that has governed them since late-2014. Its latest low – in mid-to-late-Aug. ‘17 projected an ensuing 5-month advance into mid-to-late-Jan. 2018 – when an important peak took hold. A subsequent high is likely in mid-to-late-June 2018.
In the interim, equities have suffered multiple sell-offs with one significant index – the Major Market Index (similar to DJIA) turning its weekly trend down. The three primary indices have generated multiple neutral signals against their prevailing weekly uptrends but would not turn those trends down until weekly closes below 23,360/DJIA, 2532.5/ESM & 6421/NQM.
They also dropped right to their Nov. ‘17 lows – the ‘4th wave of lesser degree support’ on a 6 – 12 month basis – and initially held. Those early-Feb. lows now represent an even more consequential level of support since the breaking of them could turn the weekly trends down and the 6 – 12 month wave structure negative, in one fell swoop.
If the 5-month cycle is going to time descending highs (June high lower than Jan. high) – which is a distinct possibility – then the intervening decline would likely [reserved for subscribers]…
The S+P underwent another sharp sell-off (both sell-offs lasted 11 days – Jan. 29 – Feb. 9 & March 12 – 23) and briefly rebounded. It has not neutralized its daily downtrend, so the S+P remains negative and poised to see a new wave of selling to begin the month of April.
If it dropped sharply enough, the S+P could even produce a 3-week high – low – (low) Cycle Progression if an initial low were set by April 6.”
Stock Indexes poised for new (1 – 5 day) wave of selling to begin April. Action of April 2 – 6 should be revealing. See Weekly Re-Lay & INSIIDE Track for additional details.