Stocks Signaling Broader Bottom; Gold Stocks Fulfilling March 12 – 16 Cycle Bottom.
03/17/20 INSIIDE Track Stock Index Update: “Stock Indexes had a moderate bounce after dropping into mid-month and fulfilling their intra-month downtrends… Daily, weekly & monthly extremes (and the weekly trend patterns) produced the potential for a 1 – 3 week bottom. However, it would take daily closes above the March 12/13 highs – 23,186/DJIA, 2762/ESM & 8095/NQM – to signal that at least a 3 – 5 day rebound is unfolding. Until then, the downtrends remain intact.
At least one segment of the market has seen a solid rebound. Gold stocks rallied sharply after Gold dropped right to its primary downside target – and decisive 4th wave of lesser degree support – at 1450/GC.
The XAU also attacked critical support and is poised to rally to [see current publications for ongoing analysis & trading strategy updates]”
Stocks fulfill 3 – 5 week sell signals triggered on Feb. 7 – 14; Completing projected overall plunge into late-March ’20 – when a multi-month bottom is expected. Gold & Gold stocks concur, triggering buy signals at same time as oil stocks and overall equities.
40-Year Cycle and 2-Year Cycle could trigger spike low in DJIA on March 23 – 27, 2020 – the precise time that index bottomed in 2018 AND 1980.
How Do Energy & Metals’ Stocks Corroborate 2Q ’20 Outlook?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.