DJIA: Hurst Cycles - 1st November 2022
A bullish move from a low on the 13th October increases the likelihood of the much anticipated 18 month nominal low having occurred. We look at the new evidence and the phasing outlook
Tools required: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend
Analysis Summary
In our last report we anticipated the low of the 18 month component and discussed whether it may actually be at the proposed 40 day nominal component low in mid October.
This has now proved likely to be the case with a very bullish move up in late October befitting a low of at least 20 week magnitude. By the principle of synchronicity, this may well also be the 18 month nominal low:
From 30th September Report:
At the medium term the 20 week component is visually apparent in the decline from early 2022 and is expected to trough with support from the 54 month FLD (orange) mid-late October. By the principle of synchronicity this should also be the 18 month nominal low, according to the current phasing.
What is interesting now is how this next 20 week component unfolds in cyclical terms via price action. The initial move has been exuberant,…