The 6/05/15 Morning Report

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Stocks were unsuccessful at trying to break above the declining trend line on Wednesday. They delivered more bearish follow through on Thursday.

9 spx

Thursday was day 18 for the daily equity cycle. Stocks closed below the 50 day MA on Thursday. With a peak on day 9, this daily cycle is forming as a left translated daily cycle. Left translated cycles typically fail, leading to an intermediate cycle decline. A break below the previous daily cycle low of 2067.93 forms a failed daily cycle.

This syncs up with a sell signal that I received on the FAS Buy/Sell Indicator.
(The FAS Buy/Sell Indicator is a signal that I provide to subscribers.)

fasss

The FAS Buy/Sell Indicator is a signal that I developed that has proven to be quite reliable at helping to spot tops. The FAS Buy/Sell Indicator as another tool in the tool box for equity studies.

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