XLE formed a daily swing low on Monday. A close above the 10 day MA will have us label Thursday as the DCL. But tonight, I wanted to look at the weekly chart.
XLE printed its lowest point last week. This was week 17, which places XLE in the early part of its timing band for an ICL. A weekly swing low and a close above the converging 10 week MA and 200 week MA will signal a new intermediate cycle.
Cycle Trading 
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