$SPX Hurst Cycles
Been away much of July and my health continues to be poor. So postings are being kept to a minimum.
The last look was the week of July 4th. It was indeed a top and not very obvious. While the $SPX and US markets did a great job of fooling market players, other indices (eg. $TSX) were a better tell.
A 20 week low is at hand as mentioned in the last $SPX post. A cycle low should take hold by Fed day and a sharp rally for 2-3 weeks should take markets into a top around Labour Day.
From there we will see the next leg down for this bear market. I say bear market because the target generated for this fall is a retest of the summer 2010 lows ~ 1050. That is the minimum target generated by the 80 week FLD.
GLGT.
cheers,
john
www.sentienttrader.com
Been away much of July and my health continues to be poor. So postings are being kept to a minimum.
The last look was the week of July 4th. It was indeed a top and not very obvious. While the $SPX and US markets did a great job of fooling market players, other indices (eg. $TSX) were a better tell.
A 20 week low is at hand as mentioned in the last $SPX post. A cycle low should take hold by Fed day and a sharp rally for 2-3 weeks should take markets into a top around Labour Day.
From there we will see the next leg down for this bear market. I say bear market because the target generated for this fall is a retest of the summer 2010 lows ~ 1050. That is the minimum target generated by the 80 week FLD.
GLGT.
cheers,
john
www.sentienttrader.com
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
