Stocks formed a bullish reversal on Tuesday but ran into resistance at the 50 day MA on Wednesday.
Stocks were rejected by the 50 day MA and broke below the day 29 low on Thursday to extend the daily cycle decline. Stocks are currently run a daily downtrend. Rejection by the 50 day MA indicates a continuation of its daily downtrend and signals a cycle band sell signal. A break below the previous DCL of 5773.31 will form a failed daily cycle.
Cycle Trading 
Leave a comment