We are waiting on a close above the 4720 resistance level to add to positions.
However, stocks are still being contained by the resistance at the 4720 level. From Mid -Ocitober to early November stocks were in a strong daily uptrend that was in part characterized by RSI embedding in overbought. Since rallying out of the day 43 DCL, RSI has not been able to embed again in overbought. Stocks were turned back by the 4720 resistance level on Monday. If stocks deliver any bearish follow through then we will need to honor the stop at the rising 50 ay MA.
Cycle Trading 
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