DJIA: Hurst Cycles - 29th June 2022

Upside targets are achieved from the 40 day nominal low on the 20th June. Is the 40 day nominal peak now forming? In this report we look at the possible scenarios for price action.

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

Analysis Summary

The target of 31500 specified on the last report was achieved in the DJIA on the 24th of June as price moved fairly sharply from what is either a 40 day nominal low, or less likely, a 20 week nominal low, occurring around the 17th.

From 21st June report:

price is likely forming at least a 40 day nominal low here, running at around 36 days via both the pattern matching approach of Sentient Trader and time frequency methods. This forms the midpoint of the proposed 80 day component, the last low of which was around the first 3rd of May. This sets up the next 80 day nominal low around the first part of July and it should be a very interesting journey to get there over the next few weeks.

We now have the scenario of a possible 40 day nominal price peak forming with the prospect of the next 80 day iteration coming in mid July, as shown below on the short term chart. This would, as phased, also be the nominal 20 week low.