Stocks Rally from Aug. 26/27 Cycle Low; Project Sept. 13/16 Peak… NFLX Remains Troubling (‘Canary in Coal Mine’).
09/04/19 Weekly Re-Lay Alert: “Stock Indices rallied for 3 – 4 days from their Aug. 26/27 lows (a 2 – 4 day rally was projected) and were projected (in the 8/31/19 Weekly Re-Lay) to see a 1 – 2 day pullback before resuming their rebounds.
They saw that pullback to begin the week with most indexes spiking down to their extreme daily downside targets (daily HLS levels) yesterday, setting the stage for the resumption of their rebound – a rally that was/is expected to be larger than previous ones (of the past 6 weeks) and ultimately take them back to their highs.
The daily 21 MACs were expected to corroborate that and did begin to turn up today, a result of the plunging (inversely-correlated) daily 21 MARCs. The primary indexes all closed above their daily 21 High MACs, confirming this bullish scenario.
It would now take the new intra-month trends turning up in order to project a rally into mid-Sept. (when daily cycles already converge).”
Stock markets fulfill analysis for Aug. 26/27 low and subsequent rally… likely lasting into Sept. 13/16. NFLX reinforces outlook in stocks (‘canary in coal mine’) – projecting rebound into Sept. 6 – 13 before next leg down. (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.