Stocks are running into resistance at the previous breakout level.
The initial surge out of the DCL caused stocks to get a bit extended above the 10 day MA. The 10 day MA is beginning to flatten out. Stocks will need to get the 10 day MA to turn higher before the rally out of the DCL can gain any traction.
Stocks are heading into the most bullish time of the year. If stocks can quickly breakout above the all-time high of 4743.83, that could trigger a melt-up phase.
Cycle Trading 
Leave a comment