# DJIA: Hurst Cycles - 23rd Feb 2022

### Dow Jones Industrial Average | Phasing Analysis Update, Outlook & Trading Strategy

*Tools required:* **Nominal Model** | **FLD** | **FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend**

# Phasing Analysis

## Long Term

## Components greater than and including the 18 month nominal cycle

## Medium Term

## Components less than and including the 18 month nominal cycle

## Short Term

## Components around the 80 day nominal cycle

# Summary

Price action in the DJIA is, of course, very similar to the **S&P 500** which we also reported on today. The **only **difference is relative amplitude modulation. Frequency components are the same (plus some noise component) but our interpretation of their position is affected by the amplitude modulation. So, this report is a good opportunity to look at the alternative phasing which expects a 40 week low at the end of March.