Cycle Trading

Stocks formed a daily swing low on Monday.

Stocks printed their lowest point on Friday, day 38. That places them in their timing and for a daily cycle low. Monday’s swing low has a good chance of marking the DCL. We will use a close above the 10 day MA to label day 38 as the DCL.

And if stocks do confirm that day 38 was the DCL, that does not mean that they are out of the woods yet — which is something that I covered in the 8/19/23 Weekend Report.