Cycle Trading

The weak jobs number on Friday sent stocks initially lower.

The weak jobs number also is causing some uncertainty with our daily cycle count.  Stocks closed back in its recent consolidation zone. A close back below the 10 day MA will have us reconsider if day 21 was the DCL.

However, stocks found support at the 10 day MA and formed a reversal. Any bullish follow through will affirm day 21 as the DCL. Stocks are currently in a daily uptrend.  Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.