Stocks broke above the 6128.18 resistance level to close at a new all-time high on Tuesday and then closed higher still on Wednesday.
Stocks were unable to deliver bullish follow through on Thursday and formed a swing high, closing back below the 6128.18 level. We need to keep in mind that at 26 days, the daily cycle is getting mature and that there are bearish divergences developing on the oscillators. At this point a close below the 10 day MA will signal the daily cycle decline. Stocks are still in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.
Cycle Trading 
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