Hurst Projection-small change in character
#1
Posted 24 August 2016 - 03:13 PM
to 2168 and that was it. At the same time the Nasdaq never did give a short
term downside projection. Then later in the week we got an upside projection to 2194, which we hit yesterday.
Now on todays close we got a 2.5 week and 5 week
projection to 2165, which is very close to here. The difference is that the
Nasdaq also gave a lower projection. While numerically Nasdaq projections are
not as reliable, directionally they are an important confirming indication.
It is the first lower Nasdaq projection since before Brexit.
Any close below the 2165 area any time over the next 10 trading days will give a
projection to the 2135 area. If we hold here in the short term and rally new
projections to the high 2180's would be given. If we go a little lower first
and then rally the projection could be a little higher. Either way it appears
that slowly the market character is changing, albeit very slowly.
#2
Posted 25 August 2016 - 06:45 AM
thanks SB - very interesting development.
klh
#3
Posted 25 August 2016 - 11:46 AM
Hi SB,
The 10 and 20 day FLDs sit near $SPX 2180 at the moment. With such a low volatility period here, these FLDs are sideways flat. Price needs to fall below these FLDs to suggest any kind of fall has started into a 40 week cycle low, which is due Sept./Oct. time frame.
I see lots of speculation that we are making a major top here. That is still not likely until well into next year. JMHOC.
cheers,
john
#4
Posted 25 August 2016 - 02:01 PM
correction in to a 40 week cycle low is a good trading opportunity.
#5
Posted 25 August 2016 - 02:25 PM
Primarily waiting to buy new long positions in the fall for what should be a strong 2017. TWT.
#6
Posted 25 August 2016 - 02:38 PM
Hi SB,
The 10 and 20 day FLDs sit near $SPX 2180 at the moment. With such a low volatility period here, these FLDs are sideways flat. Price needs to fall below these FLDs to suggest any kind of fall has started into a 40 week cycle low, which is due Sept./Oct. time frame.
I see lots of speculation that we are making a major top here. That is still not likely until well into next year. JMHOC.
cheers,
john
Yeah, what he said .
#7
Posted 25 August 2016 - 04:34 PM
Can't blame you. I'm hoping for a setup that I can trade before that and if I'm lucky enough to
participate, I too would like to get long, probably in October.