Cycle Trading: The Stock Market Morning Update
|Monday was day 27 for the daily equity cycle, placing stocks 3 days shy of its timing band for a daily cycle low.
Stocks are beginning to show signs of a pending daily cycle decline. Stocks have formed a swing high and there is a bearish crossover on the True Strength Indicator. The 10 day MA is aligning with the daily cycle trend line, so a close below the 10 day MA will signal that the daily cycle decline has begun. The peak on day 25 assures us of a right translated daily cycle formation which aligns with stocks being in a daily uptrend. Stocks will continue in their daily uptrend unless they close below the lower daily cycle band.
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