I believe that stocks printed their daily cycle low on Thursday and quite possibly their intermediate cycle low on Thursday as well.
One of the criteria for an intermediate cycle low is for stocks to form a weekly swing low, which they did. However stocks will need to break through some resistance before we can be assured that the intermediate cycle low has been set.
Stocks are facing resistance from the 50 week MA and 10 week MA. Stocks will likely be volatile until they are able to break through this resistance. A close above the 10 week MA will have us label week 20 as the intermediate cycle low.
Cycle Trading 
Leave a comment