On Monday we discussed how stocks needed to work through the dual resistance at the convergence of the 2600 resistance level and the declining 10 week MA. (See below chart from Monday)
And below a closer look at the chart from Monday
Notice that stocks closed below both the 2600 resistance level and the 10 week MA on Monday.
Stocks on Tuesday broke above both the 2600 resistance level and the 10 week MA to test the declining weekly trend line. A close above the declining weekly trend line will confirm that week 46 hosted the intermediate cycle low. It would also shift the odds towards week 46 also hosting the yearly cycle low. The expectation for a new intermediate cycle following a YCL is to form as a right translated weekly cycle, peaking after week 10.
Cycle Trading 
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