Thursday was day 42 for the daily equity cycle.  There are bearish divergences developing on the oscillators that we often see prior to a cycle decline. 

Since breaking above the day 27 high, stocks have been going pretty much straight up and appear to be rallying into their intermediate cycle peak.   But at 42 days, stocks are late in their timing band for a daily cycle low. A swing high and close below the accelerated (dashed) trend line will signal the daily cycle decline.  Stocks continue to close above the upper daily cycle band to indicate a daily uptrend.  Stocks remain in their daily uptrend unless they close below the lower daily cycle band.  

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