Stocks on Track for Surge into ~November 25th; NQ-100 Poised to Peak Early (~21,200/NQ)
11/09/24 – “Stock indexes, on a 6 – 12-month and 1 – 2 year basis, have fulfilled analysis for an overall advance into 4Q 2024 and are in the process of fulfilling expectations for final spike highs into the second half of November after correcting into November 4/5th…
Stock Indices skyrocketed on Election results after the NQ-100 had neutralized its daily uptrend multiple times – while retracing into November 4th – but did not turn that daily trend down. That signaled the NQ-100 was not going to spike any lower before the small and mid-cap indexes led the anticipated November rally.
That has been in focus the past month but the corresponding strength of the primary indexes was the primary unknown. By holding 1 – 2 week support levels on Nov 4/5th, they showed that new highs were a higher probability.
However, it was the S+P Midcap 400 that was projected to lead a November rally – likely lasting into November 18 – 25th, when the greatest synergy of weekly cycles converges.
A high at that time would fulfill an ~8-month high-high-high-(high) & ~12.5-month low-low-low-(high) Cycle Progression. It would also fulfill a 17 – 18-week high-high-(high) & ~5-week low-low-high-(high) Cycle Progression
The DJIA has a similar ~5-week/~37-day low-low-high-(high; Nov 18 – 25, ’24) Cycle Progression coming into play at that time with November 22/25th representing the daily version of that cycle.
By exceeding its previous high, the NQ-100 is also showing additional strength & could extend this rally into Nov 15 – 22nd and fulfill an 18 – 19-week low-high-high-(high) Cycle Progression that last timed the mid-July ’24 high.
Stock Indices sold off into Nov 4th with the daily trend patterns, HLS levels (extreme downside targets) and cycles signaling the likelihood for daily lows. The DJIA spiked lower into November 4th – retesting intermediate support and fulfilling daily cycles while remaining in a weekly uptrend.
The S+P 500 retested its October low (5724/ ESZ) and late-August/early-September highs (‘resistance turned into support’ at 5725 – 5730/ ESZ) and held… during the week after testing and holding its weekly HLS (extreme downside target)… the recipe for a multi-week low.
It dropped right to its rising weekly 21 High MAC – in what was perceived to be a wave ‘4’ of a ~3-month uptrend (from its early-August ’24 low). The subsequent surge validated that wave structure and ushered in wave ‘5’. These rallies could last into/beyond mid-November.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes bottomed in sync with cycle lows on November 4/5th (reinforced by multiple price indicators) and have begun projected November surge. DJIA & DJTA corroborate cycles projecting rally into ~November 25th while NQ-100 is poised to peak earlier (near 21,200/NQZ).
The S+P Midcap 400 and related indexes are still projected to lead a new surge into late-November ’24 – when a more significant peak is a higher probability. November 22/25th is the greatest synergy of cycles but price action will need to clarify if/when a late-November top is forming. The 17-Year Cycle also remains focused on 4Q 2024 as the most likely time for a major peak in equities.
How High Could November Surge Reach?
Why is S+P Midcap 400 Poised to Lead Surge into Late-November?
Is Russell 2000 Range Target Revealing Clues?
Will NQ-100 Peak Sooner??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.