Stocks Remain Focused on Upside Price Targets; Jan. 17/18 is Pivotal Cycle.
Stocks Remain Focused on Upside Price Targets; Jan. 17/18 is Pivotal Cycle.
01/12/19 INSIIDE Track Intra-Month Update – “Stock Indices further confirmed a 2 – 4 week bottom (on Dec. 26) after fulfilling most of the outlook for 4Q 2018. They extended their rallies after fulfilling daily & weekly cycle lows in late-Dec. while reaching a critical 6 – 12 month downside target (22,100/DJIA).
The Dec. 26 low perpetuated a 14-week high (Mar. 5 – 9) – high (Jun. 11 – 15) – high (Sept. 17 – 21) – low (Dec. 24 – 28) Cycle Progression and a corresponding 7-week high (Sept. 17 – 21) – high (Nov. 5 – 9) – low (Dec. 24 – 28) Cycle Progression that comes back into play in Feb.
The Dec. 26 low also perpetuated a 15 – 16 trading-day low (6/25) – high (7/17) – high (8/07) – high (8/29) – high (9/21) – high (10/17) – high (11/08) – high (12/03) – low (12/26 – 27/18) Cycle Progression – most consistent in the MMX – that next comes into play on Jan. 17 – 18… equities could see another sizeable rally in the second half of Jan.
From a 1 – 3 month perspective, stock indexes need to generate weekly closes above 24,100/DJIA, 2621/ESH & 6682/NQH to turn the 1 – 3 month trends neutral and trigger signals of a larger-magnitude rebound (more than the projected 2 – 3 week rally) and to potentially set sights on higher levels for the coming weeks.”
Stocks are fulfilling the outlook for a sharp rebound in the first half of January but could still reach 24,295 – 24,366/DJIA, 2637- 2646/ESH & 6752 – 6774/NQ before a 1 – 2 week top becomes more likely. From a timing perspective, Jan. 17 – 18 is the next key cycle and should help determine what to expect leading into early-Feb. and subsequent cycles in late-Feb.
All of this action is powerfully validating the 2019 outlook for stock markets and for key cycles coming up in the next few weeks AND in the next few months. Could this outlook be clarifying what to expect from a geopolitical standpoint? …In the same way that 2018 pinpointed watershed events??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.