Cycle Trading

Stocks filled 2 more lower gaps on Wednesday then formed a bullish reversal on Thursday.

Thursday was day 42 for the daily equity cycle. That places stocks well within their timing band for a daily cycle low. The odds are good that if a swing low forms, that it will mark the daily cycle low. A break above 2911.13 will form a swing low. In the Weekend Report I plan to discuss where stocks are in their longer term, intermediate cycle.