Cycle Trading

XLE formed a swing high and closed below the 10 day MA last Wednesday. 

XLE delivered bearish follow through on Friday and Monday, turning the 10 day MA lower, to signal the daily cycle decline.  XLE found dual support from the 50 day MA and 20 day MA  and formed a reversal.  XLE is currently in a daily uptrend.   In XLE forms a swing low and closes back above the 10 day MA that would indicate a continuation of its daily uptrend and signal a cycle band by signal — in which we would then label the 19 as an early DCL.  A break above 88.03 will form a swing low.