Cycle Trading

Stocks came rushing out of the gates last week and have rallied for over 5.3%.

Stocks are now stretched above the 10 day MA. Stocks will likely need to consolidate in order to allow the 10 day MA time to catch up to price. We will be watching the 5880 level for possible support if stocks retrace. However, stocks are currently in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.