last week i posted a chart of the NASD 10 wk projection,
this week the SPX.
there are three target areas shown.
i've done this based on using the 8/06 low, which i lean toward as the nominal 4.5 yr low with 8/16 as a fundamentally induced cycle straddle. this gives the most conservative upside target.
the other two targets are based on the low close or the low print on the chart. Hurst does not comment on situations like this so i would assume using the low of the chart on 8/16 would be the measure (or perhaps the 8/16 midpoint, not shown).
it does not matter too much currently as we will soon have a nominal 20 wk fld descending and any of the above targets should break it, creating a cascade to much higher prices.
the NASD price targets of the earlier post remain the same.
i remain long dec es's after rolling from sept's last week.
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