Monday was day 6 for the new daily cycle and stocks are running into resistance at the 50 day MA.

There is a possibility that day 72 marked not only the daily cycle low, but the longer term intermediate cycle low as well. A close above the 50 day MA will begin to shift the odds that stocks are in a new intermediate cycle. I plan to discuss the other parameters that will signal stocks are in a new intermediate cycle in the Weekend Report.