5000 – Update

Stocks closed above the 5000 level on Friday.

At 24 days, stocks are nearing their timing band for a daily cycle decline.With stocks being stretched above the 10 day MA, along with bearish divergences continuing to develop on the oscillators, stocks were at risk of the 5000 level triggering a take profit event.Now that stocks closed above 5000 stops can be raised to 5000.

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