Stocks Poised for April 23 – 27 Low… and Rally into June?
Stocks Poised for April 23 – 27 Low… and Rally into June?
04/14/18 Weekly Re-Lay: Stock Indices have extended their recent sideways trading, but remain on track for an overall decline into April 23 – 27, 2018… A drop into April 23 – 27, 2018 is still expected and would create a 12-week decline from the S+P 500’s late-Jan. peak – completing a 50% retracement in time (24 weeks up; 12 weeks down). A 12-week decline would also match the timing of the two longest corrections of the past 2.5 years.
Corroborating that, the S+P set a secondary high on March 12 – 16, 6 weeks after its peak. That produces a potential 6-week high-high-(low) Cycle Progression also targeted for April 23 – 27. In the coming week, price targets are lining up for potential corroboration [reserved for subscribers]”
Stock indexes have daily cycles peaking on April 17/18 and weekly cycles bottoming on April 23 – 27. The weekly trends did not turn down – as the DJIA was fulfilling projections for a sharp drop from late-Jan. into/through March 2018 (lowest daily AND weekly close was March 23, 2018) and are beginning to focus on the next multi-month cycle high in late-June/early-July.
If equities see a spike low on April 23 – 27, they would be in a position to mount a new rally. The Nasdaq is in the strongest technical position and is one of the indexes most likely to retest its all-time peak, leading into monthly cycle highs in June/July 2018. See Weekly Re-Lay & INSIIDE Track for additional details.