After forming a swing high on Monday, stocks delivered bearish follow through on Tuesday.
Stocks closed below the May 1st high of 4186.92 on Tuesday. This opens the door to the possibility of a failed breakout is unfolding. Stocks also closed below the 10 day MA on Tuesday, potentially setting up a left translated daily cycle formation. A break below the daily cycle trend line would signal the daily cycle decline.
In the Weekend Report I plan to breakdown what this means for the longer term intermediate and yearly cycles — but I will give you a hint to how it looks right now …
Cycle Trading 
Leave a comment