Cycle Trading

Both the S&P and the Nasdaq printed an extended 52 day daily cycle low on 10/29/18. They both formed swing lows on 10/31 to signal a new daily cycle. Both went on to close above the 200 day MA on day 7, managing to turn the 10 day MA higher to confirm the new daily cycle. Then they broke lower.

The Nasdaq broke below the previous daily cycle low on Tuesday to form a failed daily cycle. It also extends the intermediate cycle decline, which I plan detail in the Weekend Report.

While the S&P also broke lower they have not yet formed a failed daily cycle. But since the Nasdaq had been leading the indices higher, it will likely also lead them lower. Therefore, I suspect we will see the S&P also form a failed daily cycle to extend their intermediate cycle decline. Since Tuesday was only day 16 for the daily equity cycle. That leaves about 3 more weeks for stocks before they enter their timing band to print a daily cycle low.

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