NDQ Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: let's review our expectations on the previous update (August 19th):
Update: the 40W trough was formed on August 18th, which was the bottom for wave 4.
Analysis of the Structure:
We are in wave (III) of a of 5 of (A). Potential targets for wave (A) peak are 17307.75, 17782.14, 17958.65, and 18228.95.
Analysis of the Cycles:
We are inside the second 40W cycle of the current 18M cycle. This means we have months of bullishness ahead of us. On September 1st, we got the first 20D cycle trough in the current 40W cycle and now we are starting the second 20D cycle of the first 40D cycle.
Looking into FLDs, we have 15813 as the target for the current 40D cycle peak. The trend underlying that cycle is bullish, so we would overshoot that target. That peak should form on September 18th (don't forget the fact that troughs are synchronized and we can have a clear idea of when they happen, but the peaks are not like that and this is just an estimate).
The path that is shown on the chart is based on the dates that I have for important troughs. For example, wave (IV) bottom on September 22nd as a 40D cycle trough and wave b on October 31st as a 80D cycle trough.
- Wave IV of (c) of y of 4, and 14186.16 as my target for the bottom.
- 40W trough to form in the second half of the coming week.
- This is a great buying opportunity as we should get a nice bounce out of this 40W cycle trough flying to ATH and above.
Update: the 40W trough was formed on August 18th, which was the bottom for wave 4.
Analysis of the Structure:
We are in wave (III) of a of 5 of (A). Potential targets for wave (A) peak are 17307.75, 17782.14, 17958.65, and 18228.95.
Analysis of the Cycles:
We are inside the second 40W cycle of the current 18M cycle. This means we have months of bullishness ahead of us. On September 1st, we got the first 20D cycle trough in the current 40W cycle and now we are starting the second 20D cycle of the first 40D cycle.
Looking into FLDs, we have 15813 as the target for the current 40D cycle peak. The trend underlying that cycle is bullish, so we would overshoot that target. That peak should form on September 18th (don't forget the fact that troughs are synchronized and we can have a clear idea of when they happen, but the peaks are not like that and this is just an estimate).
The path that is shown on the chart is based on the dates that I have for important troughs. For example, wave (IV) bottom on September 22nd as a 40D cycle trough and wave b on October 31st as a 80D cycle trough.
