Stocks formed a bearish reversal and closed below the 10 day MA on Thursday.

Thursday was day 36, placing stocks in their timing band for a daily cycle low. Stocks closed below the 10 day MA, turning it lower and also closed below the daily cycle trend line to signal the daily cycle decline. Stocks should go on to break below the day 32 low of 4060.79 in order to c complete its daily cycle decline. Stocks are currently in a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.