Tuesday was day 21 for the daily equity cycle. While stocks gave back some gains on Tuesday I believe that the bigger picture is bullish.
Buyers began to step in at the end of the day on Tuesday.
And the bigger picture is that stocks are only on week 5 of the new intermediate cycle. And I believe that stocks are rallying out of their yearly cycle low. The first intermediate cycle out of the yearly cycle low should form as a right translated weekly cycle. And the previous to weekly cycles peaked at weeks 19 and 22 respectively. So I believe that this intermediate rally has only begun.