Stocks Project Sell-off into Nov 4/5th; Late-November ’24 Cycle Highs to Follow
10/26/24 – “Stock indexes, on a 6 – 12-month and 1 – 2 year basis, have fulfilled analysis for an overall advance into mid-October 2024 – the latest phase of the 17-Year Cycle of Stock Market Peaks and corroborating daily, weekly & monthly cycles in indexes like the DJIA. A Perfect Storm of anxiety-triggering events could spur a quick, sharp sell-off into early-November…
Stock Indices fulfilled the outlook for a surge into October 18th, when a myriad of daily, weekly & monthly cycles – as well as the latest phase of the 17-Year Cycle of Stock Market Peaks – all projected a decisive peak.
In the case of the DJIA, that perpetuated a ~90-degree cycle that has governed it since mid-Oct 2022 – fulfilling a related ~3-month/~13-week low – low (Jan 17) – low (Apr 17) – high (July 17/18, ’24) – (high/Oct 17/18, 2024) Cycle Progression.
At the same time, price action corroborated those cycles with the DJIA tracing out a textbook topping sequence, attacking its weekly LHR (extreme upside weekly target) and multiple LLH or range-trading targets on October 11th and then setting a final peak – right at weekly resistance – during the ensuing week…
Stock Indices fulfilled the outlook for rallies into October 18th and have seen a sell-off take hold. The DJIA, DJCA, Russell 2000 and S+P Midcap 400 turned their daily trends down. On Friday, they also gave outside-day 2 Close Reversals lower, closing below their daily 21 Low MACs as those 21 MACs began to turn down.
That is a convincing combination of negative signals that could spur a sharper sell-off in the coming week… that could also complete Intra-Month Inverted V Reversals lower – with those indexes setting initial lows in early-Oct, intra-month highs in mid-Oct, and then dropping to new lows in late-Oct.
If those reversals materialize, it would likely spur additional (initial) selling into Nov 4/5th.” TRADING INVOLVES SUBSTANTIAL RISK
Stock Indexes are confirming a multi-week (or 1 – 2 month) top after fulfilling cycle highs on October 17/18th. A quick sell-off was expected to follow with the DJIA signaling a likely drop into late-October/early-November. Other indexes have corroborated, projecting drops into cycle lows on November 4/5th.
The S+P Midcap 400 and related indexes are showing that small and mid-cap stocks are likely to lead a new surge into late-November ’24 after the developing sell-off bottoms. The 17-Year Cycle remains focused on 4Q 2024 as the most likely time for a major peak in equities.
How Low Could Drop into November 4/5th Reach?
Why is S+P Midcap 400 Poised to Lead Surge into Late-November?
What Does the 17-Year Cycle of Stock Peaks Portend?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.