FTSE 100: Hurst Cycles - 5th September 2022

FTSE 100 shows dominance at the 80 day cycle level, hitting targets at 7100 - 7200 and again testing the 18 month FLD. Price now sits near the next 80 day cycle nest of lows, we look at the next moves

Analysis Summary

A clear dominance of the 80 day component has been reinforced in the FTSE, with a bell curve like shape of the most recent iteration squashing the 40 day component for a tricky phasing in the last few weeks. However, the anticipated move back down has been sharp and hit the targets of 7100-7200 detailed in our last report. Price now sits around the 20 week FLD support (shown on short term charts below).