Stocks sold off on Wednesday in response to Powell signaling that there will be one more hike this year. Stocks delivered bearish follow through on Thursday
Stocks broke below the previous daily cycle low on Thursday. Breaking below the previous DCL forms a failed daily cycle and extends the intermediate cycle decline. Breaking below the previous DCL can also trigger a bloodbath phase, which could last 5 to 7 days. And 5 – 7 days would place stocks in their timing band for a DCL.
Cycle Trading 
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