Stocks ran into resistance at the 10 day MA on Tuesday and formed a swing high on Wednesday to extend its daily cycle decline. Wednesday was day 36, placing stocks in their timing band for a DCL.
The premarket shows us that both the S&P and the Nasdaq are in the process of forming a narrow range day. Thursday is day 37, placing stocks in their timing band for a DCL. With stocks forming a lower low on Thursday, the earliest a swing low can form will be on Friday. We will be watching for a swing low and close back above the 10 day MA to signal the new daily cycle.
Cycle Trading 
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