Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Thursday, August 18, 2011

Wow 4800 is really calling now :)

Even I underestimated the weakness of this market...In the morning yesterday, I was expecting a bounce from 4970-5000 area to a little bit higher - As I had mentioned, a very weak bounce. This is why I covered 1/3 of the shorts I had from 5160...that and money management rules. But market as usual had other plans and continued to breakdown.

I had mentioned in my earlier post about internals. It was a sea of red yesterday in all the broader stocks - I mean mid and small caps. This was the first red flag. The second was the inability to hold the support range. Yeah I wish I were holding all the shorts but I will take what I have. :)

Technically from a Hurst viewpoint, yesterday was bad. Because the market breached the 5 week low implying that the market is breaking down from a cycles viewpoint as well. Now it looks like 4800 is coming quite fast. Like I said before, break of 4950-5000 range will get us to 4800-4750 in a jiffy. And as I mentioned in one of earlier posts, first target is approx 4768 - the 38.2% retrace of the full rally from Oct 2008.

Long live the power of Hurst! :) ..Ofcourse combined with traditional TA and sound money management.

Later.

Best,
Lee

3 comments:

Devadas Nayak said...

Nice to see that you are following Hurst Cycles.I used & tried long back using Spectral Analysis & his fourrier transforms & then stopped because of lack of Software Support.Which Software you are using ?

Regards

www.devadasnayak.wordpress.com
www.yourastrologer.wordpress.com

Lee said...

Hi Devadas,
There is a software called Sentient Trader..Check it out..Its expensive and definitely not useful on its own. I mean you need to have pretty good knowledge about Hurst cycles and phasing to use the software - Because there will be times when you have to override the software and use the phasing of your own preference.

But the software is good for performing a lot of initial spectral analysis..Which is just not possible for normal people like you or me to do.

Thanks for the comment. Nice to see other Hursties out here.

Best,
Lee

BALA said...

Is there any correllation between Hurst/Elliot and new wave cycles .Little knowledge about elliot-lot of subjectivity in that -even in a wave itself sdeveral sub waves and labelling itself -if error ed entire thing erred .Is that short comings are not there in others ? Thanks