Stocks Hold Decisive Support as Major Bottom Forms; Multi-Month Buy Signals Triggered on March 18 – 23!
03/28/20 Weekly Re-Lay: “Stock Indices rallied sharply after fulfilling both the 2-Year Cycle (March 23, ’18 low close in DJIA) and 40-Year Cycle parallels (precipitous drop from Feb. 12/13 into late-March). The Indices fulfilled expectations for a rally into March 27 with the DJIA turning its daily trend up on March 26. That ushered in the time for a 1 – 3 day pullback before another rally is likely (it could start as early as Monday)…
Stock Indices continue to show signs of bottoming… after repeatedly attacking their monthly HLS levels – the extreme downside targets for March ’20. March 23 was the 2-year anniversary of the 2018 DJIA low close and timed a final spike low in some indexes.
This past week (March 23 – 27) was also the 40-year anniversary of the late-March 1980 low – the focus and objective for the 40-Year Cycle signal from Feb. 12/13. The primary indexes spiked to new lows, fulfilling this 40-Year Cycle outlook as well.
The low on March 23 also fulfilled a 31 – 34 day high-high-high-(low) Cycle Progression in the leading DJ Transportation Average and projected a sharp rebound to follow. This was reinforced by the Transports retesting their 1 – 2 year downside target (triggered in Oct. ’18) at ~6,500/DJTA…
Though it may seem a bit extreme at the moment, one other extreme upside target needs to be addressed – due to the synergy that is currently forming. It is where weekly LHRs are now beginning to merge. In the NQ-100, that is around 8,900/NQM – which just happens to be near the weekly 21 High MAC. From Mar. 31 – April 3, the daily 21 High MARCs will also overlap. In the S+P, this range is spread out a little bit more – from 2930 – 3000/ESM…
Stock indexes surged after the DJIA & ESM spiked to brief new lows on March 23 – the precise 2-year anniversary of the 2018 DJIA low (close).”
Stocks reinforcing March 16 – 18 buy signals as tech stocks project major rallies! Stocks fulfill Stock Panic Cycles (projected for early-2020, in March 2019) as well as 40-Year Cycle and 2-Year Cycle projecting plunge into March 23 – 27, 2020 – the precise time the DJIA bottomed in 2018 AND 1980. Transports reach multi-year downside target (6,500) as NFLX & AMZN trigger decisive buy signals. Major indexes trigger buy signals for powerful rallies.
Could 40-Year Cycle Trigger New Bull Market?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.