Stocks printed their lowest point on Friday, day 38 to place them in their timing and for a daily cycle low. Wednesday’s close above the 10 day MA signaled a new daily cycle. However, stocks were rejected by the 50 day MA on Thursday, closing back below the 10 day MA, which calls this into question.
Stocks need to close back above the 10 day MA in order to re-label day 38 as the DCL. But a break below the day 38 low of 4335.31 will extend the daily cycle decline. Stocks are currently in a daily downtrend. Any bearish follow through will indicate a continuation of its daily downtrend and signal a cycle band sell signal.
Cycle Trading 
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