After rallying for an almost 3% gain on the Fed rate hike on Wednesday, stocks gave it all back and then some on Thursday.
This is beginning to look like the late February DCL. The powerful thrust out of the day 22 low indicated a ‘V’ shape bottom. Then stocks got hammered and trended lower until they consolidated which allowed the 10 day MA to flatten out. And it looks like stocks will need to consolidate which will help to allow the 10 day MA to flatten out before the rally into the new daily cycle can gain any traction.
Cycle Trading 
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