Not Out Of The Woods Yet

January 28, 2020

Stocks formed a swing low on Tuesday.

Stocks printed their lowest point on Monday, day 36, placing them in their timing band for a daily cycle low. Tuesday’s swing low and close above the upper daily cycle band signals a new daily cycle. And while Stocks did rebound off the 38 fib level and RSI has also turned higher — indicative of an intermediate cycle advance … we are not out of the woods yet. We will need to see a close above the 10 day MA to label day 36 as the DCL.

In the Mid-Week Update I plan to cover whether stocks are out of the woods in regards yet to their weekly cycle.

8 responses to “Not Out Of The Woods Yet”

Thomas

January 30, 2020

LM,

Do you follow by chance SOXL.

Guess a low is forming soon possibly tomorrow or latest early next week.

Thanks for your reply.

Thomas

Reply
1. likesmoneystudies
  
  January 30, 2020
  
  I do monitor SOXL and was watching it today.
  Recently the 200 MA on the 2 hour chart has been acting as support.
  A reversal off of the 200 MA would give a nice entry point with the 200 MA being the stop.
  
  Reply
Thomas

January 30, 2020

Thank you!

Reply
1. likesmoneystudies
  
  January 30, 2020
  
  Update
  
  Reply
  1. Thomas
    
    January 31, 2020
    
    Thank you.
    
    Looks like Friday could be the entrance day.
    We shall see.
Thomas

January 31, 2020

New Target 235.

Lets see

Reply
Thomas

January 31, 2020

Let me know your new target for entry.

Thanks

Reply
Thomas

January 31, 2020

That roughly the 200MA on the 4 hours.

Reply