After peaking on day 13 stocks trended lower, printing its lowest point on Tuesday, day 17. Stocks then formed a swing low on Wednesday, closing above the 10 day MA to signal that day 17 is a half cycle low.
Stocks are currently in a daily uptrend. Wednesday’s swing low formed above the lower daily cycle band indicating that stocks remain in their daily uptrend. Stocks will need to break above the day 13 high of 2742.24 in order to form a right translated daily cycle.
However, stocks lost the 10 day MA on Thursday. So we will need to watch the daily cycle trend line. A break below this trend line would signal that the daily cycle is in decline. A close below the lower daily cycle band would end the daily uptrend and signal that the intermediate cycle is in decline.
Cycle Trading 
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