S&P 500: Hurst Cycles - 26th October 2022
Crunch time in the stock markets worldwide as we unpack the price movement from early October. 40 day nominal low only or the anticipated 20 week / 18 month component low?
Stockmarkets around the world have bounced from a low in early October, phased in previous reports to be of only 40 day magnitude. Is this phasing accurate or have we seen the low of the 20 week component and, perhaps, the low of the 18 month nominal component? Certainly price reached our target of 3800 from the last report on the 30th of September relatively swiftly. However, price is currently at the 40 week FLD resistance (short term chart below), a key resistance area over the last 9 months or so.
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