As we discussed on Tuesday, the peak on day 10 sets stocks up for a left translated daily cycle formation therefore any bearish follow through following Tuesday’s close below the converging 10 day MA and 50 day MA would have likely extended the intermediate cycle decline. However, stocks closed back above the converging 10 day MA and 50 day MA on Thursday, changing everything — again.
Stocks found support at the daily cycle trend line on Wednesday and formed swing low on Thursday, closing back above the converging 10 day MA and 50 day MA. Stocks are currently in a daily uptrend. Forming a swing low above the lower daily cycle band and closing back above the converging 10 day MA and 50 day MA indicates a continuation of the daily uptrend and signals a cycle band buy signal. A break above the day 10 high of 4541.25 will assure us of a right translated daily cycle formation.
Cycle Trading 
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