Cycle Trading

Stocks delivered a cycle band buy signal on Wednesday.

Stocks have been in a daily uptrend characterized by peaks above the upper daily cycle band and troughs (lows) above the lower daily cycle band. The decline into the day 32 low was mild but did mange to close below the 10 day MA and turn it lower. The swing low that formed on Wednesday formed above the lower daily cycle band to deliver a cycle band buy signal and indicate that stocks remain in their daily uptrend. Stocks will continue in their daily uptrend until they close below the lower daily cycle band.