While we wait on a declining trend line break to signal a new daily cycle, stocks delivered more signals of a new daily cycle.
Regaining the 10 MA and printing a bullish TSI zero line crossover both help to confirm a new daily cycle.
Stocks also have formed a weekly swing low. Since stocks are on the outer edge of its timing band for an intermediate cycle low, this weekly swing low has good odds of marking the intermediate cycle low. And following a right translated weekly cycle our expectation is to see stocks print a higher weekly cycle high.
The Miners printed a higher high on Wedneday, day 6. A break above the upper trend line delivers a bullish resolution to this consolidation. Rejection here could lead to a left translated, failed daily cycle