Stocks were rejected by the declining 50 week MA the previous week.
Stocks formed a weekly swing high this week. This is a very bearish setup. A peak on week 9 sets stocks up for a left translated weekly cycle formation. Stocks are currently in a weekly downtrend. Forming a weekly swing high below the upper weekly cycle band that will indicates a continuation of their weekly downtrend and signals a weekly cycle band sell signal.
Cycle Trading 
Leave a comment