I recently discovered an obscure work done by a rocket engineer -- literally a rocket scientist, lol -- by the name of JM Hurst. Hurst claims to have found repeating harmonic cycles in the market and claimed a 90% success rate. Using his method, it would appear that this recent high is the result of a 10 week cycle peak. His work suggests that the market will drop shortly as a result of not just that 10 week cycle in decline but also a 40 week and a 5 week cycle. His work also suggests that this low will reach bottom by the week of Oct 14 recover then have a final bottom sometime in July 2020. Sounds like an ABC pattern to me. This is really just the first analysis that I've done, I will be extremely interested to see if I have it right. I think the addition of predictable cycles to Elliott Wave analysis has the potential to add a much needed timing factor as well as mitigate the scaling problem that Prechter talks about in his book.
mikeoakster
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Could be interesting - I've heard about an elliottician that combines EW with Hurst cycles, but I don't know nothing about it.
Which high are you referring to exactly when you say "... this recent high..."?