SPX Harmonic Elliott Wave and Hurst’s Cyclic Analysis

Overview:

let's review the key points of the previous update (September 24th):

• 40D cycle trough on September 25th, labeled as wave V of (a) of y of 2.
  

Update:

Analysis of the Structure:

We are in wave (b) of y of 2, developing as a flat. Right now, we are in wave 5 of c of (b).

Based on the fib retracements of wave (a) of y, I have 4328.89 or 4339.85 as my potential targets for the peak.



Analysis of the Cycles:

I think we got the first 10D cycle trough in the current 40D cycle yesterday. The 10D FLD cross has generated a target of 4350.

Some important dates/major troughs to remember:

1. 20D cycle trough: 17th of October.
2. 80D cycle trough: 25th October to 6th November

We are right at the 40W cycle FLD, which is supporting the price action for now. We might get a downside cross soon/next week.