Stocks Fulfilling Multi-Year Targets; Heighten Focus on February 9/12th!
02/03/24 – “Stock indexes have rallied into early-February with the DJIA & NQ-100 nearing their 6 – 12 month and 1 – 2 year upside targets (as the NQ-100 enters the recurrence of one of its most consistent weekly cycles). A multi-month peak could take hold at any time…
Stock Indices remain in positive weekly trends but with widening divergence. They are in the time frame when the 2-Year Cycle has timed multi-month highs in 2018, 2020 & 2022 – perpetuating a ~24-month low (Jan/Feb ’14) – low (Jan/Feb ’16) – high (Jan ’18) – high (Jan/Feb ’20) – high (Jan ’22) – (high; Jan/Feb 2024) Cycle Progression. As a result, another multi-month peak is expected.
Late-Jan/early-Feb ‘24 is also ~6 months/~180 degrees from the late-July/early-August ’23 peaks and ~12 months/~360 degrees from the early-Feb ’23 peaks… and likely to produce multi-week highs.
It also includes the latest phase of an intermediate cycle that has impacted the Nasdaq-100 for ~two decades. During that time, it has consistently traded in 14 – 15-week and 28 – 29-week cycles/intervals.
The 28 – 29-week/~6.5-month cycle timed swings from the mid-May ’21 low to the Nov 2021 peak to the mid-June ’22 low to the late-Dec/early-Jan ’23 low to the mid-July ’23 high to the current time frame (January 29 – February 9, ’24) – when an intermediate peak is increasingly likely.
The DJIA remains on track to attack (or exceed) its 1 – 2 year upside target (triggered in late-2022) at 39,107/DJIA and fulfill a major upside objective… reinforced by a multi-year range target at 39,000 -39,200/DJIA… coinciding with other targets.
A spike above 39,000/DJIA would also double the magnitude of the previous decline – from late-July into late-Oct ’23. The NQ-100 is nearing its corresponding 17,700 – 18,200/NQ target.
The Russell 2000 remains in limbo, rallying to its weekly LHR on Jan 22 – 26th, signaling an impending high, and then retracing and turning its weekly trend back to neutral (from up). The daily trend is acting similarly. [The daily & weekly trends would not turn down until a daily close below 1941/QRH and a weekly close below 1938/QRH.]…
Stock Indices have rallied into a decisive two-week period that incorporates multi-year, multi-month & multi-week cycles. One potential scenario is to see [reserved for subscribers]…” TRADING INVOLVES SUBSTANTIAL RISK!
Stock Indexes have rallied into the latest phase of the uncanny 2-Year Cycle in January/February 2024.
The DJIA is approaching its 1 – 2 year upside target at 39,000 – 39,200 as the NQ-100 has initially tested its respective 1 – 2 year upside target at 17,800 – 18,200/NQ (stemming from multi-year bottoming signals in late-2022). In late-December ’23, the Russell 2000 attacked its 1 – 2 year upside target at 2085 – 2100… so it has already fulfilled a major objective and is trying to confirm a multi-month top.
Weekly cycles, LHRs, and other timing indicators project a pivotal time surrounding February 9/10, 2024 – the completion of the initial ‘period of testing’ for 2024.
What Would Signal a Multi-Week Peak? …a Multi-Month Peak??
Why is February 9/12th Pivotal for Equities?
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.