Stocks rallied on Thursday with a rate hike in the rear view mirror.
Stocks regained the 10 day MA on Thursday. Stocks should turn the 10 day MA higher as it rallies out of the recent DCL. Stocks are currently in a daily downtrend. But a close above the upper daily cycle band will end the daily downtrend and begin a new daily uptrend.
I tthought you had a bearish view on stocks for the medium term?
Best regards Koen
Based on Tuesday’s price action – yes. Stocks were rejected by the 50 day MA and closed back below the 10 day MA — all of this was bearish.
However, there was no bearish follow through on Thursday – which I attribute to the Fed’s announcement of a buyback plan to support market liquidity
Ye but I am speaking about the mid term for several months…
Best regards
If we get a weekly swing low, that will flip things to a bullish view
Cycle Trading 
Leave a comment