Cycle Trading: Clear & Convincing Evidence

LikesMoney Independent Analyst

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.

Author

LikesMoney

Independent Analyst

Assets (such as stocks, gold, and the dollar) have identifiable cycles.

EUR/USD hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

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