More Bearish Clues

6

Stocks delivered bearish follow through today.

7 spx

The daily equity cycle peaked on day 8 and formed a swing high on day 9. Losing the 50 day MA on day 10 is another clue to this daily cycle forming as a left translated cycle.

8 spx weekly

The intermediate equity cycle peaked on week 19 and formed a weekly swing high on week 20. It is beginning to appear that stocks are being rejected by the developing declining (blue) intermediate trend line. A break below the rising (dashed) intermediate trend line confirms the intermediate cycle decline.

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3 thoughts on “More Bearish Clues

  1. Want some bearish clues? Look at last Fri’s SOS list. I’ve seldom seen so many names over 100M$ on that list on a single day even for an OE day. Looks like across board liquidation.

  2. Pingback: Possible Reversal | Cycle Trading

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