Stocks Fulfill ‘Opening Range’ Sell-off & Projected Plunge into April 19th (Now Key Support).
04/27/24 – “Stock indexes are rebounding after dropping into April 19th and fulfilling analysis for the Month of Aggression… Several indexes turned their weekly trends down, confirming multi-month peaks…
They fulfilled expectations for an initial sell-off from late-March into April 19th – enveloping the Month of Aggression, the first ‘month’ of the new Natural Year (March 20 into April 19th, the Date of Aggression).
That came immediately after decisive indexes – and some influential stocks – fulfilled cycle highs in late-March ’24. That is when, among other things, the S+P 500 fulfilled a 34 – 35-week high (late-Mar ’22) – high (late-Nov ’22) – high (late-Jly ’23) – (high; late-March 2024) Cycle Progression AND a 2-Year Cycle from its late-March ’22 peak.
The S+P Midcap 400 followed suit, fulfilling the latest phase of a ~14.5-month high-high-high-(high) Cycle Progression. [Leading stocks like AMZN have a 33 – 34-month high (Dec ’15) – high (Sept ’18) – high (July ’21) – (high; April/May 2024) Cycle Progression that was also fulfilled.]
Proxy stocks like NVDA, and the overall NQ-100 Index, powerfully reinforced this outlook – projecting sell-offs from March 25th into April 19th – the Date of Aggression…
The DJTA and Russell 2000 also turned their weekly trends down on April 19th – confirming multi-month peaks, ushering in initial lows, and simultaneously projecting a future decline after a brief, reactive bounce.
1 – 3 month & 3 – 6 month traders could have lightened up on long positions [reserved for subscribers].” TRADING INVOLVES SUBSTANTIAL RISK!
Stock Indexes fulfilled multi-week sell signals that projected a sharp decline into April 19th… the completion of Natural Year 2024/25’s ‘Opening Range’. That aligned with previous focus on the Week of Aggression (April 12 – 19th) & Date of Aggression (April 19th) – the culmination of this pivotal transition period (the first ‘month’ of the new Natural Year… the Month of Aggression).
Weekly trend reversals in the weaker indexes should usher in a reactive multi-week bounce that could lead to another divergent peak before a new decline takes hold. In contrast, the stronger NQ-100 remains positive (see related 17-Year Cycle analysis and what that could mean for 3Q/4Q 2024).
How Does The Drop into ~April 19th Impact the Rest of the Natural Year?
How Does This Correspond to 17-Year Cycle of Stock Declines (and Related Analysis for 4Q ’24)?
Could This Ultimately Lead into the 2025/26 Recession Cycle?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.