Hurst Cycles Timing & Straddled Troughs in the S&P 500 | David Hickson

The 80-day cycle trough was anticipated around early to mid-last week, but as of June 16, 2025 (Monday), it is considered overdue. The cycle is at 70 days since the last trough on April 7, 2025, compared to a recent average wavelength of 61 days and Hurst’s historical average of 68 days.

 

The S&P 500 is expected to form an 80-day cycle trough around mid-June 2025, potentially straddled, 
with bullish price action likely to follow toward a 20-week cycle trough in early August 2025.

 

If the trough formed on June 16, 2025, it would be 2 days later than the historical 68-day average. If it formed last Friday (June 13, 2025), it would be 1 day earlier than the average. If price continues downward without a bounce, the trough could be delayed to around Monday, June 23, 2025 (see also Cosmic Cluster Days and Seasonal Pattern), potentially due to a rephasing of the 18-month cycle trough to April 7, 2025 (displacing the 80-day trough by ~20 days).
 

 A straddled trough in Hurst cycle analysis occurs when a cycle trough is weak or hard to identify because shorter 
cycles are overshadowed by longer ones (e.g., 20-week, 40-week, 18-month).

The 80-day cycle is weak, showing minimal downward price influence, likely overshadowed by longer cycles (20-week, 40-week, 18-month). This results in a straddled trough, where the trough is subtle and lacks a strong downward move, as seen in the upper chart in the red dashed composite model line. The next 20-Week Cycle Trough is expected in early August 2025, which will likely have a stronger influence on price due to the dominance of longer cycles.

Reference:
David Hickson (June 16, 2025)  - Straddled Troughs - What You Need to Know. (video) 

 

Philip Hopf: Elliott Wave projections for the S&P 500 and Nasdaq.

Tom Pizzuti, June 17, 2025 (Tue): It doesn’t look like an impulse up from the June 12th low. I favor a break
under 6052.00 at some point today in an effort to push down to at least 5993.00 and preferably lower.  

Jeff Hirsch, June 17, 2025: "Get Ready for NASDAQ’s Christmas in July Mid-Year Rally."

 

See also:

David Hickson (May 19, 2025)  - Bullish Hurst Cycle Targets for the S&P 500 and Bitcoin. 

Krasi (June 16, 2025)  - S&P 500 Hurst Cycles Analysis.

Cosmic Cluster Days | June 2025

Heliocentric Cosmic Cluster Days (CCDs) and financial markets do not display a consistent polarity or directional bias. The 'noise channel' serves as a signal filter, with the upper and lower limits of the channel being empirically defined. That said, swing directions, along with swing highs and lows also within the 'noise channel,' may correlate with or coincide with short-term market trends and reversals.

 

Cosmic Cluster Days  |   Composite Line  |  Noise Channel    — — —  Solunar Rhythm

 ○ = Full Moon | ● = New Moon | ▴  = Lunar Declination max North / ▾ = max South |  立春 =  Solar Terms

 

Cosmic Cluster Days in June 2025:

 May 25 (Sun) | Jun 24 (Tue) | Jul 10 (Thu)

 

For previous CCDs, click [HERE]. For background on the author, the concept, and the calculation method, click [HERE].

 

Lunation Cycle, click [HERE].  

Planet Speed (Retrogradity), click [HERE]. 

Geocentric and Heliocentric Bradley Turning Points, click [HERE]. 

Sensitive Degrees of the Sun, click [HERE].

Planetary Declinations, click [HERE].

The SoLunar Rhythm in June 2025.

 

Venus at Greatest Elongation on Sunday, June 1, 2025 at 4:00 EDT.

Venus at Aphelion on Thursday, June 12, 2025 at 5:00 EDT.

Summer Solstice on Friday, June 20, 2025 at 22:42 EDT.

Earth at Aphelion on Thursday, July 3, 2025 at 15:54 EDT.

 

Selected geocentric events in June 2025 (EST/EDT).

June 2025 Post-Election Seasonal Pattern of US Stock Indices | Jeff Hirsch

In post-election years since 1950, early June strength has been notably stronger for NASDAQ and Russell 2000, while DJIA and S&P 500 have typically struggled.  

 

 Typical June Pattern of the S&P 500 in a Post-Election Year:

Early Strength: Starts with a slight uptrend, weaker than NASDAQ (2.5%) or Russell 2000. 

Mid-Month Dip: Drops around days 10-15 due to profit-taking or uncertainty. 

Late-Month Recovery: Rallies late June to a neutral or positive close, less than small-cap/tech gains.

 

So far in June 2025, Russell 2000 ($IWM) has gained 3.8% and NASDAQ ($QQQ) 2.5%, setting the stage for a typical brisk mid-month drop followed by a month-end rally, often led by technology and small caps.

Reference:
Jeffrey A. Hirsch (June 10, 2025) - Small Caps Rocking Typical Post-Election June.

 

 S&P 500 Post-Election Year Seasonal Pattern 1949-2023.

Bullish Hurst Cycle Targets for the S&P 500 and Bitcoin | David Hickson

For the S&P 500, an 18-month cycle trough likely formed on April 7, 2025, with confidence upgraded from the prior 80-day cycle analysis. A 40-day cycle trough occurred on May 7, 2025, with price holding above the 20-day FLD, signaling bullishness. An 80-day cycle trough is expected in the first week of June 2025, preceded by a peak. A 20-week cycle trough is anticipated around August 2025. Price crossing the 80-day FLD targets 6,360 before the June trough, while crossing the 20-week FLD targets 6,780 before the August trough. The 80-day FLD should provide support in June. Staying above the 20-day FLD during the 40-day trough and FLD crossings reflect strong bullish momentum, reinforcing the April 18-month trough.

 80-Day Cycle Trough expected around the first week of June, with a prior peak around 6,360.

18-Month Cycle Trough on April 7, 2025, with increased confidence from prior 80-day cycle analysis.
40-Day Cycle Trough on May 7, 2025, with price staying above the 20-day FLD, indicating bullishness.
80-Day Cycle Trough around the first week of June 2025, with a peak forming beforehand.
20-Week Cycle Trough around August 2025.

80-Day FLD Crossing generated a target of ~6,360, expected before the 80-day cycle trough in June 2025.
20-Week FLD Crossing generated a target of ~6,780, expected before the 20-week cycle trough in August 2025.
Support Level: The 80-day FLD is expected to provide support during the 80-day cycle trough in June 2025.

For Bitcoin, a 40-week cycle trough likely formed in early April 2025, supported by price finding stability at the 40-week FLD. A recent 40-day cycle trough formed with price at or above the 20-day FLD, showing bullishness. An 80-day cycle trough is expected by late June 2025, following a peak. An 18-month or possible 54-month cycle trough occurred in August 2024. The 40-week FLD provided support in April, and prior crossing generated an achieved upside target. Shortened cycles, like the early 40-day trough, suggest a bullish trend. Price behavior at the 20-day FLD and FLD support confirm the 40-week trough, though shorter cycle positioning, like the 20-week trough, remains uncertain. 

 80-Day Cycle Trough expected toward the end of June 2025, with a peak around 109,697 forming prior.

40-Week Cycle (= 9-Month Cycle) Trough likely formed in early April 2025, with evidence of support at the 40-week FLD.
40-Day Cycle Trough formed recently, with price staying at or above the 20-day FLD, indicating bullishness.
80-Day Cycle Trough  expected by end of June 2025, with a peak forming prior.
18-Month Cycle Trough formed in August 2024 (potentially a 54-month cycle trough).

40-Week FLD Interaction: Price found support at the 40-week FLD level in April 2025, confirming the trough.
Upside Target: Prior 40-week FLD crossing generated a target (achieved), with current bullishness suggesting further upside to around 109,697 and 123,519.

Reference:
David Hickson (May 19, 2025)  - Bullish Cycle Targets - Hurst Cycles Market Update for the S&P 500 and Bitcoin. (video) 

 

See also:

Krasi (May 17, 2025)  - S&P 500 Hurst Cycles Analysis. 

Namzes (April 18, 2025)  - 2025 vs V-Shaped Recoveries of 1965, 1992, and 2018. 

 

Current 20-Day Cycle in the S&P expected to bottom during first week of June.
 

 S&P 500 1965 vs 2025 Analogue.

 

Russell 2000 and NASDAQ historically strongest in
week before Memorial Day (Monday, May 26).

 

 US Fed bought $43.6 billion in treasuries in 4 days.

"Three Day Whaley" Predicting 20% Average Annual Return | Wayne Whaley

When the S&P 500 experiences a one-day upside move of three standard deviations or more, there is often a tendency for the index to undergo some level of profit-taking (consolidation) over the next couple of days. However, if the index defies this tendency and follows the initial surge with two consecutive positive days, it signals strength. This pattern, known as the "Three Day Whaley," is a notable market move deserving of attention.

 The "Three Day Whaley" signal has a perfect 30-0 record since 1950

for predicting positive annual returns averaging 20.2%.

Volatility has increased over the past 75 years. The setup for this pattern requires the S&P to post a move on Day 1 that reflects the volatility during that specific period, followed by two consecutive positive days. The threshold for that initial move has evolved from around 2.25% in 1950 to 3.25% in 2025.

On May 12-14, the S&P met the criteria for this setup with a three-day sequence of 3.25%, 0.76%, and 0.10%—its first occurrence since March 26, 2020, which was followed by a 50.55% annual gain.

Since 1950, the S&P has gone 30-0 in the year following this setup, with an average annual gain of 20.2%. All 30 instances have seen at least a 7.5% gain, and only four of the 30 cases experienced a double-digit drawdown. The first-day threshold requirement can be found in column 3 (DAY1 THHLD) in the table above.

Reference:
Wayne Whaley (May 17, 2025)  - A 30-0 Three Day Whaley.

See also:

Paul Ciana (May 17, 2025)  - S&P 500 on Track for Strongest May-to-July Gains in Years.

Ryan Detrick (May 16, 2025) - S&P 500: More Good News for Bulls.

S&P 500 Hurst Cycles Analysis | Krasi

We now have a potentially completed pattern on the hourly chart, with the schedule aligning to week 8 for the 10-week high, suggesting it's time for a pullback toward the 10-week low.

In the short term, the RSI appears to form a triangle in the middle, suggesting a possible zig-zag pattern with a running triangle as the Elliott B-wave. In the intermediate term, a zig-zag pattern is testing the 200-day moving average and the RSI trendline. The next move is a pullback, followed by a rise into July.

 

In the short term, Hurst cycles are nearing the 10-week high, with the next move likely to be a decline toward the 10-week low.

The 40-week low in early April 2025 was right on schedule, with the next move expected to be a rise toward the 40-week high.

 

Reference:
Krasi (May 17, 2025)  - Practical Technical Analysis: Weekly Preview.

 

» Absent an escalating trade war, there is no theme right now that can push stocks massively lower (i.e. re-test the April lows). 

I expect stocks to trade in a wide and volatile range throughout 2025 [...] perhaps making marginal all-time highs. «

 Subu Trade, May 17, 2025.

 

See also:

Namzes (April 18, 2025)  - 2025 vs V-Shaped Recoveries of 1965, 1992, and 2018. 

Namzes (April 16, 2025)  - S&P 500 1965 vs 2025 Analogue = 89% Correlation.

Namzes (December 27, 2024) - 2025 Outlook on S&P 500, Cryptos, Currencies, Metals & Energy.

S&P 500 on Track for Strongest May-to-July Gains in Years | Paul Ciana

Bank of America's Paul Ciana analyzes 96 years of S&P 500 data to highlight the index's seasonal historical performance from May to July, and reveals average gains of 2.5% since 1928 and 5% since 2015.

 S&P 500 Average Trend: 3-Month Look Ahead (April 30 to July 31).

The S&P 500 closed at approximately 5,958 on May 16, 2025, up from 5,584 on May 1. This represents a 7.16% increase from May 1 to May 16. Forecasts predict that May will average 6,017, ending at 6,249, marking an 11.5% monthly rise. June and July also show positive projections, with June at 6,600 and July at 6,566. Historically, the period from May to July sees a 2.5% gain since 1928, or 5% since 2015. This year’s forecast suggests a 17.6% rise, well above the historical averages.

The current 7.16% increase from May 1 to May 16 already surpasses the historical three-month average, indicating that the seasonal trend is not only holding but also exceeding expectations. While the bullish momentum in the first week of May is clear, the second week is typically bearish. However, the market has continued to rise, possibly due to strong investor sentiment suggesting further gains through July, potentially reaching a 17.6% increase by July 31—far above the 2.5% and 5% historical averages. Capital Economics expects the S&P 500 to hit 7,000 by year-end, while Goldman Sachs predicts a 10% return for 2025, both supporting the idea of strong seasonal performance.

Reference:
Neil Sethi (April 30, 2025) –  BoA Paul Ciana’s S&P 500 Seasonal Trend from May to July.

Biggest 6-Week VIX% Declines and Forward S&P 500 Total Returns AND
Biggest 27 Trading Day Rallies (1950-2025).

See also:

Charlie Bilello (May 16, 2025)  - One of the Greatest Comebacks in Market History. (video)

The Economy Forecast Agency (May 16, 2025)  - S&P 500 FORECAST 2025, 2026, 2027-2029.
Ryan Detrick (May 16, 2025) - S&P 500: More Good News for Bulls.

Paul Ciana (April 4, 2025) - Second Week of April Up 72% of the Time. 

S&P 500: More Good News for Bulls | Ryan Detrick

On average, it is 18.7% higher a year later, 20 out of 20 times since 1976:

Performance of S&P 500 after more than 58% of components reach new 20-day highs.

When more than 58% of S&P 500 components hit a 20-day high, the index has historically risen by an average of 18.7% over the next 12 months, with a 100% success rate across 20 instances since 1976. Gains are less pronounced but still positive in the short term, averaging 1.7% (1 month), 5.6% (3 months), and 9.7% (6 months), with positive returns 80-85% of the time. The latest May 14, 2025, event (68% of components at a 20-day high) aligns with this historical pattern, suggesting a high probability of gains by May 14, 2026.

 

Historical May performance in post-election years (1950-2021) shows a typical pattern of strong gains in the first 6 trading days (average >1%), followed by a dip from days 6-9, and a rally through month-end. This contrasts with 2025 trends for major indices such as the NASDAQ, S&P 500, Dow, and Russell 2000. By mid-May, all indices had broken above their 200-day moving averages.

 

Can we get a pullback? 24% of NASDAQ 100 stocks are overbought with an RSI above 70, a threshold indicating potential price corrections; historically, since 2020, this condition has led to a 1-week pullback 55% of the time, with an average decline of 0.71%.

 

The VIX has dropped for 6 consecutive weeks, a rare streak historically linked to potential stock market pullbacks, as shown in the data from 1992 to 2024, where the S&P 500 averaged a -0.63% return one week later in similar scenarios. The S&P 500 tends to face short-term corrections, with historical data indicating negative returns in the following 1 to 4 days 63-78% of the time, suggesting a volatility spike may be imminent.

 

 

It wasn't long ago people were talking about the Death Cross in the SPX. Back then we pointed out that the last time the death cross occurred (2022), markets reversed aggressively and managed to overshoot the 200 day by around 3.5%. A similar overshoot now would take us to around 6k.

 

 

The dominant 82-day cycle suggests a peak in the ES around June 10, followed by a decline into early August. 

 

See also:

Namzes (December 27, 2024) - 2025 Outlook on S&P 500, Cryptos, Currencies, Metals & Energy.

Cosmic Cluster Days | May 2025

Heliocentric Cosmic Cluster Days (CCDs) and financial markets do not display a consistent polarity or directional bias. The 'noise channel' serves as a signal filter, with the upper and lower limits of the channel being empirically defined. That said, swing directions, along with swing highs and lows also within the 'noise channel,' may correlate with or coincide with short-term market trends and reversals.

 

Cosmic Cluster Days  |   Composite Line  |  Noise Channel    — — —  Solunar Rhythm

 ○ = Full Moon | ● = New Moon | ▴  = Lunar Declination max North / ▾ = max South |  立春 =  Solar Terms

 

Cosmic Cluster Days in May 2025:

 Apr 30 (Wed) | May 25 (Sun) | Jun 24 (Tue)

 

Venus at Greatest Elongation on Sunday, June 1, 2025 at 4:00 EDT.

 

For previous CCDs, click [HERE]. For background on the author, the concept, and the calculation method, click [HERE].

 

Lunation Cycle, click [HERE].  

Planet Speed (Retrogradity), click [HERE]. 

Geocentric and Heliocentric Bradley Turning Points, click [HERE]. 

Sensitive Degrees of the Sun, click [HERE].

Planetary Declinations, click [HERE].

The SoLunar Rhythm in May 2025.

 

Selected geocentric events in May 2025 (EST/EDT).

The S&P 500 Has Just Triggered a Death Cross | Guilherme Tavares

On April 14th, the S&P 500 triggered a 'death cross.' This occurs when its 50-day moving average falls below the 200-day moving average, historically signaling potential declines, as seen in March 2022, though not always predictive of major downturns.

» That's it folks. Place your bets. «

Guilherme Tavares, April 17, 2025.

However, the S&P 500 Shiller CAPE ratio (P/E Ratio CAPE), exceeding two standard deviations above its long-term trend, suggests overvaluation, aligning with past market peaks in November 1929, October 2000, and March 2022. Previous instances of this combined signal preceded significant longer term market corrections.

The S&P 500 Shiller CAPE Ratio, also known as the Cyclically Adjusted Price-Earnings ratio, is calculated by dividing 

the current price of the S&P 500 by the 10-year moving average of its inflation-adjusted earnings.

The March 2022 and the April 2025 death crosses in the S&P 500 (daily bars).

S&P 500 Forward Returns when there is a 'Death Cross' (1953-2022).

» Should we care? Yes, we should. The forward-looking data isn't the best going out 6 months (red box). «

Grant Hawkridge, April 7, 2025.

The above table lists death cross events in the S&P 500 from 1953 to 2022, and provides forward returns over various time horizons (6 days, 1 month, 3 months, 6 months, 1 year) after each event:

• Short-term returns (6 days) are volatile, with 11 of 18 instances showing negative returns. The average loss is small, suggesting the immediate impact of a death cross is inconsistent. For example, the +8.63% gain in 1962 contrasts with the -11.51% loss in 1978, indicating no clear directional bias in the very short term.
• One-month returns lean bearish, with 13 of 18 instances negative. The worst case (-12.75% in 1929) aligns with the Great Depression’s onset, while the best case (+8.66% in 1978) shows occasional rebounds. The negative average suggests a death cross often precedes short-term weakness, though not always severe.
• Three-month returns are more consistently negative, with 14 of 18 instances showing losses. The -22.13% drop in 1929 reflects extreme market stress, while the +14.91% gain in 1962 is an outlier. The stronger negative average (-3.16%) indicates that death crosses often signal broader market declines over a few months.
• The six-month period shows the most pronounced bearish tendency, with 14 of 18 instances negative. The -35.97% loss in 1929 is the worst, tied to the Great Crash, while the +28.21% gain in 2020 reflects the rapid recovery post-COVID crash. The -4.81% average loss, emphasized in the table, suggests a death cross is a stronger bearish signal over this horizon, though exceptions exist.
• One-year returns are mixed, with 10 of 18 instances positive. The +64.41% gain in 2020 is the highest, driven by post-COVID stimulus, while the -44.95% loss in 1929 is the lowest. The positive average (+1.97%) suggests that, over a year, the market often recovers or stabilizes after a death cross, reducing its long-term predictive power.

NDX's powerful 3.5-year cycle suggests the bigger trend should

be down into mid 2026. Branimir Vojcic, April 17, 2025.

3 dominant cycles on NDX daily chart say up into late May. 

Branimir Vojcic, April 17, 2025.

Composite of the S&P 1965, 1998, and 2018 analogues (pink line), Namzes, April 18, 2025.

S&P 1998 vs 2025 Analogue (correlation = 96.6%; Lag = 9,695 days = 26.54 years),

Namzes, April 18, 2025.

See also:

Guilherme Tavares (April 14, 2025) - What Follows a 9%+ S&P 500 Day Below the 200-DMA.

Namzes (April 16, 2025)  - S&P 500 1965 vs 2025 Analogue = 89% Correlation.

Moore Research (April 10, 2025) - DJIA 1926 vs 2025 Analogue = 97% Correlation.

Yuriy Matso (April 8, 2025)  - S&P 500 1969 vs 2025.

Subu Trade (April 18, 2025)  - Markets Report: is the worst over for stocks? We're in Phase 3 of the bottoming process.