Stocks Moving Toward Late-June Cycle Low

Stocks Moving Toward Late-June Cycle Low.
~17,100/DJIA = Critical, 1–2 Month Support…
12–18 Month Trading Range Intact.

05/14/16 Weekly Re-Lay: 

“Stock Indices are fulfilling the first phase – of an expected late-April-to-late-June-decline – the initial drop into May 16–20th.  The DJIA is increasing the potential for a drop to ~17,100…

Stock Indices are powerfully validating the intermediate outlook for an initial decline from April 19/20th – the latest phase of a 19–20 week low-high-high-high-(high) Cycle Progression in the NQM, as well as corroborating cycles in other Indices – into May 16–20th.

The DJIA & ESM added corroboration to that, turning their daily 21 MACs lower.  That also reinforced the 2-week outlook for the DJIA…  As described last week, the DJIA was developing a synergistic web of key support and/or extreme downside objectives – at 17,076–17,176/DJIA…

That range included the monthly HLS, weekly HLS (2), weekly 21 Low MARC & weekly 8 Low MARC.  The DJIA was expected to set an intra-week low (this past week) around 17,500 to reinforce that target zone.  It did that, setting a low at 17,512/DJIA and creating another weekly HLS – at 17,112/DJIA.  And the weekly 21 Low MARC for the coming week is at 17,116/DJIA.

All of that increases the potential for a spike to ~17,100/DJIA…”  

 Stock Indices remain in the middle of a 15–18 month period (since early-2015) in which an extended period of range trading is expected.  They are validating the next phase of expectations for 2016 – a decline from late-April into late-June, when a 5 & 10-Month Cycle portend an important bottom… and the next swing back up.  ~17,100/DJIA is a critical & synergistic level of 1–2 month support.
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