Stocks Reach 2018 Downside Targets & S+P Cycle Lows; Project Surge into Jan. 7 – 11.
Stocks Reach 2018 Downside Targets & S+P Cycle Lows; Project Surge into Jan. 7 – 11.
12/26/18 Weekly Re-Lay Alert – Stock Indices plummeted into the convergence of daily & weekly cycles in the S+P 500 – that produced the potential for an intermediate bottom this week.
That Index, which continues to swing at different times from the Nasdaq 100, was/is likely to see a multi-week low on Dec. 24 – 28.
That is when a 14-week high (March 5 – 9) – high (June 11 – 15) – high (Sept. 17 – 21) – low (Dec. 24 – 28) Cycle Progression and a related 7-week high (Sept. 17 – 21) – high (Nov. 5 – 9) – low (Dec. 24 – 28) Cycle Progression converge.
That was reinforced by a 16 trading-day high (Oct. 17) – high (Nov. 8) – high (Dec. 3) – low Cycle Progression that was poised to produce a low on/around Dec. 27.
More importantly, the DJIA – with only three days to spare – reached its primary downside target for all of 2018… at 22,100. The attainment of that downside target produced a ~1,000-point rally today.
If a low is confirmed, with the daily trends turning up, it would reinforce the potential for the next multi-week high to form on Jan. 7 – 11 – based on an overlapping, 14-week low-low-high-(high) Cycle Progression in the DJIA.”
Stocks attack downside price targets for 4Q 2018 and for all of 2018 and complete year-long analysis for a very bearish 4Q 2018. Now that the DJIA has reached 22,100, it should trigger a sharp bounce into Jan. 7 – 11, 2019. The daily trend pattern needs to confirm.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.