Pre-Summary
XLE broke bullishly out of consolidation on Friday and delivered follow-through on Monday. The breakout signals a continuation of its daily uptrend, although XLE is becoming stretched above the 10-day MA.
XLE had been consolidating below the 61 level, allowing the 10-day MA time to catch up to price. That changed on Friday.
XLE broke bullishly out of consolidation and then delivered bullish follow-through on Monday. The breakout indicates a continuation of its daily uptrend and signals a cycle band buy signal. The bullish follow-through is constructive, but XLE is now stretched above the 10-day MA. XLE may need to consolidate again in order to allow the 10-day MA time to catch up to price. XLE remains in a daily uptrend and will remain in its daily uptrend unless it closes below the lower daily cycle band.
Current Framework
Trend: Daily uptrend.
Cycle: Bullish breakout signals continuation of the current daily cycle.
Next Trigger: Watch for consolidation as the 10-day MA catches up to price.
Cycle Trading 
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