Stocks broke bearishly out of consolidation on Wednesday, closing below the 10 day MA. Stocks went on to deliver bearish follow through on Thursday.
Thursday was day 28, placing stocks in the early part of its timing band for a DCL. Stocks formed a swing high on Thursday to signal the daily cycle decline. We will be watching the rising 50 day MA for possible support for the DCL to form. Stocks are currently in a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.
Cycle Trading 
Leave a comment