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Cycle Trading

5000 Update – Take Profit

Stocks formed a bearish reversal on Monday followed by a daily swing high on Tuesday.

Tuesday’s swing high saw stocks close below the 5000 level and the 10 day MA. Tuesday was day 26 for the daily equity cycle, placing stocks in the early part of its timing band for a daily cycle low. Closing below the important psychological 5000 level, along with closing below the 10 day MA, signals the daily cycle decline. Stocks are currently in a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.  

4 responses to “5000 Update – Take Profit”

  1. Travis Avatar
    Travis

    any updates on Gold/Gdx

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      gld

      Reply
  2. Trav Avatar
    Trav

    Any updates on Gold/Miners?

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      Hi Travis,
      I plan to cover gold in tonights Mid-Week Update. But in a nutshell, the inflation data came in hot yesterday. That caused the dollar to spike and sent gold to break below the lower stem of the triangle consolidation to continue its daily cycle decline.

      Reply

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