SPX Harmonic Elliott Wave and Hurst's Cyclic Analysis
Review:
The highlights of our previous update (Jan 7th):
Update:
No change is needed to our previous statements.
Analysis of the Structure:
We have completed waves a and b of (V) of a of 5 and now we are in wave c of (V).
Analysis of the Cycles:
So far, we have completed one 5D cycle in the current 80D cycle and we are expecting the 10D cycle on Tuesday.
The highlights of our previous update (Jan 7th):
- We are in wave (IV) of a of 5 developed as a flat, which will lead to a leg higher to complete wave a of 5.
- On Friday January 5th, we got the first 80D cycle trough in this 20W cycle.
- The general roadmap is we will go higher until around Feb 2nd, then we start a correction till March 11th (20W cycle trough, also wave b of 5).
Update:
No change is needed to our previous statements.
Analysis of the Structure:
We have completed waves a and b of (V) of a of 5 and now we are in wave c of (V).
Analysis of the Cycles:
So far, we have completed one 5D cycle in the current 80D cycle and we are expecting the 10D cycle on Tuesday.
- 20D cycle trough: 19th January. Its upside FLD target is 4866.
- 40D cycle trough: 5-7th February. Its upside FLD target is 4860.
- 20W cycle trough: March 12th.
