Cycle Trading: Stocks Signal Right Translated Daily Cycle
|Stocks broke out to a new daily cycle high on Monday.
Monday was day 20 for the daily equity cycle. A new high on day 20, or later, starts to shift the odds towards a right translated daily cycle formation.
While stocks are forming a higher daily cycle high, the market leaders are breaking out to new all time highs.
Both the Semi's and the Nasdaq have right translated daily cycle formations that are breaking out to all time highs. Both both are in a daily uptrend. They will continue in their daily uptrends unless they close below the lower daily cycle band.
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