Consolidation

The rally out of the day 19 DCL has caused stocks to become stretched above the 10 day MA.

Monday was day 5 for the new daily cycle. Stocks may need to consolidate in order to allow the 10 day MA to turn higher and then catch up to price. Stocks will need to break above the declining trend line and close above the declining 50 day MA in order for a trending move to develop.

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