Stocks Fulfill March 12 Cycle Peak…
Stocks Fulfill March 12 Cycle Peak…
S+P 500 Leads w/Daily Trend Sell Signal;
Projected 1 – 2 Week Drop Underway.
03/17/18 Weekly Re-Lay: Stock Indices fulfilled their daily trend patterns and initially peaked on March 12, perpetuating a ~40-day cycle in the DJIA. If the DJIA & NQM can turn their daily trends down, it could/should extend this decline into March 26…
Stock Indices are in the midst of a multi-month corrective phase, ushered in by the initial decline in late-Jan./early-Feb. At that time, the DJTA fulfilled downside objectives and perpetuated a ~12-week high-low-low-(low) Cycle Progressionthat projects a future low in early-May 2018. Its latest high also projects a low around May 8 (high-high-low CP).
Most of the indices fulfilled the potential for a new multi-week high on March 12 and generated initial reversal signals…
1–5 Day Outlook:
Stock Indices sold off after fulfilling their daily 21 MACs and daily cycles – projecting a quick rally on March 5 – 9 and a spike high on March 12. Not only did that March 12 high perpetuate a ~40-day high (Nov. 9)–high (Dec. 19)–high (Jan. 29)–high (March 12) Cycle Progression in the DJIA, it also provided a corroborating midpoint cycle high.
The DJIA set its highest daily close on Jan. 26 and a secondary high close on Feb. 26. If the daily trend can turn down, that would project an overall decline into ~March 26 – a 1-month/20 trading-day high-high-(low) Cycle Progression.
Within that sequence, every swing has now lasted 10 trading days.
The DJIA dropped for 10 trading days (Jan. 26 – Feb. 9) and then rebounded for 10 trading days.
The March 12 high arrived 10 trading days from the Feb. 26 high and projects a 10 trading-day decline (high-high-low Cycle Progression) into March 26.
So, both a 10- and 20 trading day high-high-low Cycle Progression align on March 26. (A low on March 26 would also arrive 45 days from the Feb. 9 low and reinforce the potential for a future low around May 9 – 45 & 90 days/degrees later.)
The S+P triggered a daily trend sell signal on March 12…”
Stock Indexes fulfilled projected rallies into March 9/12 and back up to late-Feb. highs before reversing lower. The S+P 500 provided the textbook setup and then triggered a daily trend sell signal on March 12. That coincides with daily cycles in the DJIA and the likelihood for another drop – ideally lasting into March 26 – 30. The action of March 19 – 21 should help hone specifics, with a quick sharp drop expected.
See Weekly Re-Lay & INSIIDE Track for additional details.