You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology
Amex – emerging out of a new 80 day cycle trough: good upside reversal potential.
The long lazy decline in Amex looks to have ended and price has reversed up after a distinct momentum divergence from 22 August. The decline in fact reversed out of what looks to be an 80 day cycle trough. We take a longer magnitude trough like this quite seriously, but need confirmation of course. This has come in the form of the valid trendline associated with the 40 day cycle (40D VTL -dark blue dashed down line on the chart) being crossed up, which occurred yesterday. The 20 day FLD line has also been crossed up, which gives a price projection to 164. However, this implies that the longer 80 day FLD is also crossed up, which projects to a minimum of 167.
This post was first published on Hurst Cycles Notes.
