Stocks Signaling Peak II…
Stocks Signaling Peak II…
Daily Trends Need to Confirm
Feb.1/2 = Decisive Time!
01/31/18 Weekly Re-Lay Alert: Stock Indices are showing signs of a near-term peak with the DJIA & ESH neutralizing their prevailing daily uptrends after fulfilling much of the 5-month AND 10-month low-low-low-low-(high) Cycle Progressions that project a multi-month peak between mid-Jan. – mid-Feb. 2018.
However, they need to provide daily closes below 26,028/DJIA & 2813/ESH to reverse their daily trends down and signal that a 1 – 2 week peak is intact…The Nasdaq still needs a daily close below 6885/NQH to neutralize its daily uptrend and to show any signs of a peak.
In contrast, the Transports turned their daily trends down last week and have steadily declined since peaking in mid-Jan. In order to escalate this decline to the next higher level, it would take a weekly close below 10,890/DJTA to neutralize the weekly uptrend.
It should also be noted that several key global indices have signaled initial reversals lower. These include the Shanghai Composite, Euro STOXX 50 and the DAX.”
Stock Indices are showing signs of peaking after completing the majority (or all) of 5 & 10-Month Cycle Progressions that projected a surge into and a multi-month peak in mid-Jan – mid-Feb. 2018. Transports have already confirmed intermediate peak and often lead reversals lower. Equities are entering the month of February – when a reversal lower is projected.
See Weekly Re-Lay & INSIIDE Track for additional details.