Cycle Trading

Stocks formed a swing low on Monday.

Stocks undercut the day 54 low on Friday. Monday’s swing low recovered the breakdown level to indicate that day 62 was the DCL. A close back above the 10 day MA will provide more assurance that day 62 was the DCL. But we will really need to see a close above the declining trend line in order to label day 62 as the DCL.