FTSE 100: Hurst Cycles - 1st November 2022

Price action in global stockmarkets suggests a low of at least 20 week magnitude has occurred and possibly the anticipated 18 month nominal low. In this report we study the new FTSE 100 evidence

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

Analysis Summary

The FTSE came down to around the 6700 mark, an area highlighted in previous reports and associated with the 54 month FLD support before bouncing on the 13th October. Previously price had made our target of 7050 from a brief rally starting 3rd October.

The bounce on the 13th of October, previously phased as only a 40 day component, is now assumed to be of at least 20 week magnitude, coming in earlier than expected and highlighting the 40 day margin of error we have mentioned previously in all stock market reports on sigma-l. The long term chart below is now updated to show the 18 month component having occurred, although it is not yet fully confirmed. It is certainly a valid placement, coming in at 14.8 months against the average of 16.4 months, a mild frequency modulation at this scale (roughly a 40 day margin of error).