Stocks ran into resistance at the 6700 level on Monday. Stocks formed a swing high on Wednesday and then closed below the 10 day MA on Thursday to signal the daily cycle decline. Stocks should turn the 10 day MA lower as it seeks out its DCL. We will be watching the rising 50 day MA for possible support for the DCL to form.
However …
Once stocks rallied out of the April ICL, any pullbacks have only lasted 2 – 3 days before stocks regained the 10 day MA and continued higher.
So with stocks currently in a daily uptrend. A swing low with a close back above the 10 day MA will indicate a continuation of its daily uptrend and signal a cycle band buy signal. — in which we would then label day 17 as a half cycle low.
Cycle Trading 
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