Stocks Still Seeking A Bottom — Update

May 12, 2022

Stocks broke below the day 46 low on Monday then continued lower on Tuesday, Wednesday and Thursday to extend their daily cycle decline.

Thursday was day 54, placing stocks very deep in their timing band for a DCL. At this point a swing low stands a good chance of marking the DCL. Recovery of the breakdown level of 4114.65 will have us label day 54 as the DCL. Stocks are currently in a daily downtrend. They will remain in their daily downtrend unless they close back soccer the upper daily cycle band.

Premarket update:

Stocks formed a swing low in the premarket. Now we need to see stocks hold it into the close.

2 responses to “Stocks Still Seeking A Bottom — Update”

cento100

May 13, 2022

Good Morning,

A confusing post this morning. I think the day count is incorrect; 55LTF should be 54 LTF perhaps. Not sure where Day 43 fits in as DCL??? Regards, Alastair Stuart

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Reply
1. likesmoneystudies
  
  May 13, 2022
  
  Alastair,
  Corrected – thanks
  Also added a pre-market update.
  LM
  
  Reply

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