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Independent Analyst
Stocks have rallied enough to confirm that stocks are 10 days into a new daily cycle. However, stocks are still in search of a trend.
Stocks are now on week 11 the intermediate cycle. The peak on week 7 followed by closing below the 10 week MA indicates that stocks are in an intermediate cycle decline. However, stocks are caught between the 10 week MA and the 50 week MA. Unless there is some type of major intervention from the Fed, stocks will likely continue their intermediate cycle decline. Stocks will need to either close above the 10 week MA or below the 50 week MA in order for a trending move to develop.
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