Stock Market Reinforces Projections for New Rally into Nov. 11 – 15! 1 – 2 Week High Likely on ~Oct. 15. What is Expected After Mid-Nov.?
10/12/19 Weekly Re-Lay: “Stock Indices rallied further from their early-Oct. lows, reinforcing the weekly trend pattern in the DJTA. That trend pattern helped pinpoint a high in mid-Sept. and projected a retest of its late-Aug. low, which was fulfilled in early-Oct.
Along with the weekly 21 MARC, that ushered in the time when Transports were more likely to see a 2 – 4 week rally that could extend into late-Oct./early-Nov. In the interim, a new short-term peak could be set on Oct. 14/15…
Stock Indices turned short-term trends back up after fulfilling the latest intermediate decline, selling off from cycle highs in mid-Sept. – when Transports projected a quick plunge back to their late-Aug. low – into early-Oct. (at which time the Transports retested those late-Aug. lows, even as the DJIA, SP & NQ-100 maintained their bullish weekly trend structures and projected rallies back to their highs).
From a price/time standpoint, the Transports needed to complete that decline in early-Oct., before the weekly 21 MARCs could exert a bullish influence – which is now beginning to take hold. That is due to the fact that inversely-correlated indicator is plunging from Oct. 4 until Oct. 25.
As a result, the DJTA were/are more likely to see their corresponding weekly 21 MAC turn positive on Oct. 7 – 11 or on Oct. 14 – 18. The Transports set their lowest daily close on Oct. 8, fulfilling unrelated daily cycles and then turned back up.
As for the primary indexes, the DJIA, S+P 500 & NQ-100 remain focused on their next intermediate cycle (Nov. 1 – 15), when another multi-month peak is most likely. The weekly trends remain positive and continue to project a rally to new highs.”
Stock indexes validating early-Oct. bottoming signals. Short-term peak expected on Oct. 15, as part of overall rally in primary indexes (DJIA, S+P 500, Nasdaq 100, NYSE) from late-Aug. low into Nov. 11 – 15. What is so Significant About Mid-Nov. Cycle?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.