Stocks closed above the declining 10 day MA on Thursday then delivered bullish follow through on Friday to signal that day 19 was an early DCL.
Stocks printed their lowest point the previous week, which was week 36, placing them very deep in their timing band for an intermediate cycle low. Stocks formed a weekly swing low this week. Only 1 time in the last 13 years did an intermediate cycle exceed 32 weeks. So the odds are high that this weekly swing low signals the new intermediate cycle. We still need to see a close above the declining 10 week MA in order to label week 36 as the ICL. Stocks are currently in a weekly downtrend. They will remain in their weekly downtrend unless they can close back above the upper weekly cycle band.
In the Weekend Report I will breakdown what this means for the longer term, yearly cycle.
Cycle Trading 
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