August 5-8 High
The July 25 Market Update shared an interesting 60-day cycle which was due on July 22. That cycle scored a direct hit even if the pullback was not as dramatic as in past episodes. Today, another, shorter cycle is due. It has averaged about 42 days but has stretched to as long as 47. Either way, this cycle points to a high this week matching our Hybrid Lindsay forecast. The Hybrid forecast is detailed below.
The decline from a flattened top on 8/20/15 counts 175 days to the low of the Basic Cycle on 2/11/16. 175 days later was August 4.
Point E of an ascending Middle Section on 10/4/01 counts 2,710 days to the low of the Multiple Cycle on 3/6/09. 2,709 days later is Friday, 8/5/16.
A 42 day cycle points to a high this week with the highest probability of seeing it today. A micro-cycle high is expected today, too.
A 222-day interval (221-224 days) from the high on 12/29/15 forecasts a change in trend during the period August 6-9.
Get your copy of the August Lindsay Report at Seattle Technical Advisors.com