Cycle Trading

Stocks printed their lowest point last week. That was week 23, placing stocks in their timing band for an ICL. 

Stocks are in the process of forming a weekly swing low and breaking above the declining weekly trend line. Stocks should have turned the 10 week MA lower in order to complete their intermediate cycle decline.  However, stocks did not turn the 10 week MA lower at the previous ICL and it appears that it will not do so again. Stocks are currently in a weekly uptrend. A close above the declining weekly trend line will indicate a continuation of its weekly uptrend and signal a weekly cycle band buy signal — in which we will label week 23 as the ICL.