The 11/05/15 Morning Report

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Stocks formed a swing high on Wednesday.

20 spx daily

Not all swing highs lead to a daily cycle decline. However stocks are 5 days shy of entering their timing band for a daily cycle low.

spx

A swing high formed off the day 25 peak. A break of the daily cycle trend line will signal that stocks have started a daily cycle decline. A close below the upper daily cycle band will confirm that stocks have entered a daily cycle decline.

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