Cycle Trading

Stocks appear to be consolidating ahead of Wednesday’s FOMC meeting. It is largely expected that the rates will not change on Wednesday. But the Markets will be paying attention to the likelihood of any more rate increases or will the Fed pause …

The peak on day 10 indicates a left translated daily cycle formation. While stocks closed higher on Monday, they were unable to recover the declining 10 day MA. A break below the day 13 low of 4430.48 will send stock to complete their daily cycle decline. A break below the previous DCL of 4335.31 will form a failed daily cycle and extend the intermediate cycle decline.