The Hurst composite line in both the nominal model Peaks and Troughs using the 1987 and 1998 start dates and the commonality model using the 1987 start date are looking for a 40 day cycle low today and a bounce into a 40 day cycle peak in mid November. I exited my RWM position this pm after counting 5 waves down into a 1.382 extension of minuette wave iii for a v. The models are generally projecting a retest of the recent highs in about two weeks before more down. The DeMark Sequential in the daily chart is on day 11 of a sell countdown and price has to close above1509.25 on day 13 in order to indicate an exhaustion area. This counts well as the completion of a minute wave 4 and the daily Williams 5/34/5 is nearing the zero line minimum for wave 4 completion. There was a volume signal Thursday that the downward momentum could be ready to dissipate. This is a cover short exit signal only, entry long requires more evidence unless one is very aggressive. The IWM hourly just printed a TDSEQ 13 buy signal
Hurst 40 Day Cycle Low projected for the Russell todayIWM TDSEQh13 buy signal
Posted 31 October 2017 - 09:36 AM
Best regards to you.
Posted 31 October 2017 - 10:58 AM
I had 20 and 40 week lows in August. The 20 and 40 week and even 18 month highs might be at the early October peak but that is not consistent with EW count which puts the minor wave 4 end in August (My count is different than most I've seen because of my reliance on the Williams Elliott Oscillator) and does not count five minute waves in Minor wave 5 yet. (this decline appears to have been minute wave 4, and would satisfy the rule of alternation since it was much longer and complex that the early September decline which counts best as minute wave (ii). All the Hurst models indicates a peak is in but they are terrible at calling long term peaks (16% on back testing). So far the hourly TDSEQh13 bar buy is a good signal. 1.382 of Minor 1~3 hits at 1598. Nov 11-12 is currently projected to be the next 40 day high in a window that extends from mid Nov until early Dec.