Cycle Trading: Stocks Deliver Buy Signal
|Stocks delivered a buy signal on Tuesday.
Stocks printed their lowest point last Thursday, which was day 32. That placed stocks in their timing band for a daily cycle low. A swing low did form on Friday, but the bearish close indicated that the DCL had not yet formed. Then stocks closed higher on Monday and delivered bullish follow through on Tuesday. Stocks closed above the 10 day MA on Tuesday to have us label day 32 as the daily cycle low. Stocks have been in a daily uptrend. Since the swing low formed above the lower daily cycle band, then stocks remain in their daily uptrend and trigger a cycle band buy signal.
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