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
Uranium ETF – the 40 day cycle has peaked and perhaps even the 20 week cycle too.
We last wrote on the Uranium ETF on 3 November. In that report we were looking for the 40 day cycle to peak into the 29 handle and by around mid November (see here). An updated analysis suggests that the peak is now in place at a close of 29.07 on 24 November – a tad later than we expected. In fact this may also be the 20 week cycle peak too, but this is as yet unconfirmed.
What we are tracking now is a 40 day cycle trough by the first week of December and the 20 day FLD down-cross yesterday projects to 27.28. This is also a confluence of potential support: it is roughly the level of the 40 day FLD and the up-sloping 80 day VTL. Now bear in mind that the next 20 week cycle trough is due in early January and this will undoubtedly drag on price action, which means the road-map is: down to 40 day cycle trough; then a jolt higher; then fade it into a harder sell off potentially to the 25 handle.
This post was first published on Hurst Cycles Notes.
