Stocks formed a daily swing high on Tuesday.
Stocks printed their lowest point on day 40, placing them deep in their timing band for a daily cycle low. Stocks formed a swing low on Friday then closed above both the 10 day MA and the 50 day MA on Monday, turning the 10 day MA higher, to signal day 40 as the DCL. However, Tuesday’s swing high calls this into question. What is clear is that stocks are currently in a daily downtrend. Forming a swing high below the upper daily cycle band indicates a continuation of its daily downtrend and signals a cycle band sell signal. Any bearish follow through will likely negate the weekly swing low that formed on Monday and extend the intermediate (weekly) cycle decline.
Cycle Trading 
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