The following 3 charts show a potential for a short term bullish outcome. No opinion beyond that. The 1st chart below the S&P is of the OEX put call with a 10 day moving average. You can see when it drops below .90 it tends to be an area of a low. It did this in early February, Early May and Now. In fairness it was there in January, but as you'll see the Tick chart was not in agreement. The last chart is a 10 day moving average of the closing tick. When it drops below zero it tends to be near a low. It did so in Early February, Late March, Late June and now. Obviously this guarantee's nothing, but I found it interesting.
On the Hurst front, my last post gave a projection to 2884 and said to lighten up. We exceeded the projection by 32 points which is a lot before pulling back. During the pullback we got 2.5 week projections to 2860, which we got close to this week. There are currently no projections. We could get a projection higher with closes above the field at 2894 and declining the next few days, which would give projections to slight new highs, or a decline below the 5 week field of 2878 and rising would give 5 week projections to as low as 2840 if it happened today or somewhere around 2860 if tomorrow.
