Stocks Validating Aug. 26/27 Cycle Low; Minimum 2 – 4 Day Rally Signaled… Could Stretch into ????
08/28/19 INSIIDE Track Stock Index Update: “Stock Indices have nearly completed the time frame when a sharp plunge was forecast – in late-July – late-Aug. ’19. As detailed numerous times over the past couple months, a multi-week bottom was projected to take hold on Aug. 19 – 30, the latest phase of an 11 – 12 week high (Oct. ’18) – low (Dec ’18) – low (Mar ’19) – low (Jun ’19) – (low; Aug 19 – 30) Cycle Progression.
When these indexes triggered another 3 – 5 day sell signal – on the Aug. 21 close – it reinforced that outlook and focused on Aug. 26 – 28 for a potential bottom. Most indexes declined into Aug. 26/27, with the Transports and Russell 2000 spiking to their lowest lows since mid-Jan. Others – like the DJIA, S+P 500 and Nasdaq 100 – continue to hold their Aug. 5/6 lows and validate the argument that this is only an intermediate correction (so far).
That reinforces what has been emphasized since the drop into Aug. 5/6: Stock Indexes have experienced a normal (moderate) correction but must close below those Aug. 5/6 lows – and also turn their weekly trends down – in order to elevate this to a higher magnitude decline…
Looking out a little farther, the DJIA & NQ have daily cycles projecting the next 1 – 2 week peak around Sept. xx/xx, so that would become a focal point… For now, the indexes are in what could be another 2 – 4 day rebound.”
Stock markets validating potential for Aug. 26/27 low and subsequent 2 – 4 day (minimum) rally. Pinpoint likely time for next intermediate peak! How far could stocks rally? When is next intermediate peak expected??
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.