Stocks formed a swing low and closed above the 10 day MA to signal that Wed was day 1 for the new daily cycle.
We have been looking for a break below the previous daily cycle low during this daily cycle decline. However, Wednesday’s bullish reversal along with closing above the declining 10 day MA convinces me that Monday hosted the DCL. A break of the declining trend line will confirm the new daily cycle.
Likesmoney – Thanks for your work. I am a weekly subscriber too. A few questions about this daily cycle and intermediate cycle. If we do in fact have a DCL above the Feb low and this is the 8th week of the intermediate cycle, what does the lack of new highs during the last ~35 day cycle tell us about the next couple daily cycles before our next ICL? Have we lost momentum from late 2017 and early 2018? For example, late last year and earlier this year there was mention of a “change in nature” of stocks as they accelerated into the Jan high. The expectations was that once stocks moved out of a ICL and YCL back to new highs that this acceleration would continue or perhaps even become greater (blow off scenario of sorts). Does this more complex DCL (that didn’t achieve a new high for S&P and didn’t get us an extended ICL below Feb lows…yet) change some of those probabilities? Hopefully the question is clear. But in short, wondering if this latest daily cycle and the fact that we are 8 weeks in a right at Feb lows have probabilistic implications for sideways trading range instead of accelerated gains once ATH is reached again. Thank you!
I plan to address these questions in the Weekend Report
Cycle Trading 
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