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To: John Madarasz who wrote (1437)	2/6/2002 12:47:18 PM
From: Les H	Read Replies (1) \| Respond to of 29596

The 20-week Hurst cycle is divided into two minor 10-week cycles. Each 10-week cycle is subdivided into thirds, 3 1/3 weeks or approximately 22-23 calendar days. I posted the date on which each third is to end. Since the cycle is intended to give an idea of tendencies from trough-to-trough, the first third should be the most bullish, the next or middle third is neutral, and the last third bearish. I color them as green for bullish, yellow for neutral, and red for bearish. The typical action is for the market to hit the first peak near the end of the first third, to pullback near the middle of the second third, and then to make a secondary peak by the start of the last segment. I display the highest high and lowest low for each third to show whether that period is continuing a higher trend or reversing an uptrend with lower highs and/or lower lows. According to the 20-week cycle, the Feb 8 date should be near the low. The color is red, red, and yellow since the 10-week cycle and 20-week cycle are both nearing troughs. The 40-week or 9-month cycle is coded third as yellow or neutral since the weeks 14-26 are the middle weeks. It's hard to see a bottom here with the RLX still so high. It's also seen in the relatively high advance/decline ratio for the NYSE and S&P 500. Perhaps, we'll just get rotation soon to squeeze the techs while the safe harbor stocks sell off. EDIT: The REITs and small regional banks (RTH ETF and IXF index) are the other sectors with most stocks near their highs, but they're not heavily represented in the SPX to skew the A/D.