Stocks Rebound to Resistance
Stocks Rebound to Resistance;
Set Lower Highs; Begin New Decline!
April 2 – 6 = Intensification Period.
Stocks Bounce & Set Stage for Blow-off Decline!
03/27/18 INSIIDE Track Stock Index Update: Stock Indices continue to accelerate, completing the latest two S+P daily sell signals (March 12 & 21) and then rebounding ~50% of their recent declines while surging to weekly resistance today. All three held those resistance levels and held their 50% retracement levels with all three also testing & holding daily 21 MAC resistance. That ushered in a new decline that could stretch into [reserved for subscribers].
The DJIA maintained its intra-month downtrend, throughout this brief rebound, corroborating that potential. All three also tested & held daily LHRs during the rebound and then reinforced their respective intra-month downtrends during the ensuing decline. The only thing they did not do today was to complete daily 2 Close Reversals lower. That could still be accomplished – with March 28 daily closes below 23,533/DJIA, 2597/ESM & 6554/NQM. That is needed to reinforce the potential for further downside…
As reiterated yesterday, price action left open a strong possibility for another leg down since the recent declines had not reached extreme levels. The down-trending daily 21 MACs corroborated that.
With the acceleration of daily swings (i.e. In one day, Indexes reached rebound targets that would normally take 3 – 5 days to reach), short-term daily cycles become less practical. So, a daily cycle that would normally hold for at least a week (like the recent one) might only hold for a couple days.”
Stock Indexes rebounded to 3 – 5 day resistance levels, accelerating their swings as they near the time for a blow-off decline. Multiple factors are projecting this decline to last into – and possibly through – April 2018, with April 2 – 6representing a pivotal week, when a more accelerated decline could take hold!
See Weekly Re-Lay & INSIIDE Track for additional details.