Stocks Poised for Projected Peak on Sept. 13/16… DJ Transports Concur. NFLX Latest Sell Signal Portends New Trouble on Horizon (‘Canary in Coal Mine’).
09/14/19 Weekly Re-Lay: “Stock Indices have rallied since bottoming with daily & weekly cycles on Aug. 26/27 – while projecting a rally back to the highs (based on the weekly trend patterns). A 1 – 2 week (or longer) peak is expected at this time – Sept. 13 – 17 -and would ideally involve retests of the July ’19 highs…
Stock Indices have nearly fulfilled/completed the outlook for a rally from Aug. 26/27 (daily & weekly cycle lows) into Sept. 13/16 (daily cycle highs & the intra-month trend targets) and back up to the late-July/early-Aug. highs (weekly trend objectives).
Late-Aug. saw the first validation to that outlook when the DJIA & NYA triggered bullish daily trend signals. A steady progression of confirming signals has emerged since then, bringing them to within striking distance of their highs as mid-Sept. arrives.
They began this past week in similar fashion to the previous week, pulling back to daily HLS levels on Sept. 9 & 10 (and pivotal levels of resistance turned into support) and immediately reversing higher. That reinforced expectations for additional gains.
Their daily trends, weekly trends, intra-month trends, daily & weekly 21 MACs all corroborate the forecasts for a surge into mid-Sept…
The Dow Transports are revealing some of the most consistent cycles and intriguing indicators with decisive resistance at 11,000 – 11,150/DJTA. If the DJTA remains below that resistance, it should usher in another sell-off.
Stock indexes have remained positive since the DJIA & NYA triggered daily trend buy signals in late-Aug. They were expected to begin the past week with another pullback on Sept. 9/10, and a test of daily HLS levels that overlapped the previous highs (resistance turned into support), before resuming their advance.
That took hold and spurred the latest – and potentially culminating – phase of this rally. Watch monthly resistance for potential highs.”
Stock indexes completing projected rallies Aug. 26/27 cycle low; forecast to peak on Sept. 13/16. DJ Transports are corroborating this and projecting new wave down. NFLX reinforces bearish outlook in stocks (‘canary in coal mine’) – projecting new leg down after Sept. 9 peak and sell signal. (NFLX overall downside target remains MUCH lower!) Why is Sept. 16 – 30 a dangerous period for equity markets?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.