There is a 20/40/80 week low due ideally around Aug 11. A new high is possible Tues/Wed this week.
While I like the Aug. 11th date and I think it could be a tradeable low I would have to add the following. There is nothing to suggest (breadth etc.) at this point if such a low comes (for US markets), that it would be anything near a synchronized low for the cycles mentioned above. Other global indices have been correcting with that potential, but not US indices. The $RUT just made new highs days ago and the $INDU today. I don't know what type of low forms from a Hurst point of view, but it is very unlikely to form that low in August. JMHO.
The one thing I will say is that when such large cycles trade into highs when such important lows are expected, trend changes are developing. And that's all I will say about that.
Edited by SilentOne, 31 July 2017 - 03:38 PM.