The Federal Open Market Committee meeting began on Tuesday. While there is a 99% chance that the Fed will hold rates steady, all attention will be focused on tomorrow to see if there is any indication on future moves.
Stocks broke lower on Tuesday, breaking below the day 13 low. Stocks have already closed below the 10 day MA and it is turning the 10 day MA lower to signal the daily cycle decline. Tuesday was day 21 for the daily equity cycle. Unless we get a surprise move that breaks above the declining trend line, stocks should trend lower for another 1 – 3 weeks before forming its DCL.
Cycle Trading 
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