Cycle Trading: Clear & Convincing Evidence
|Stocks closed convincingly above the 10 day MA to confirm that Tues was day 4 of the new daily cycle.
Stocks continue to close above the upper daily cycle band indicating a daily uptrend. Stocks will remain in its uptrend unless they close below the lower daily cycle band.
We can also see the both the Transports & the Russell have convincingly confirmed new daily cycles.
Like stocks, both the Transports & the Russell printed their lowest cyclical points last Wednesday. They have now both formed swing lows and closed convincingly above their declining trend lines to confirm their new daily cycles.
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