The Tuesday Night Update

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Stocks formed a daily swing low on Tuesday.

spx swing

A swing low off a day 37 low places stocks in their timing band for a daily cycle low.

spx

Stocks need to break above the accelerated declining trend line to signal a new daily cycle. Then a close above the lower daily cycle band will confirm the new daily cycle.

Gold formed a swing high today.

gold

The swing high and close below the upper daily cycle band signals that gold is declining into its daily cycle low. What we are watching for is if gold can print its daily cycle low above the lower daily cycle band. If so, then that confirms the new daily uptrend and signals that gold is breaking free from the grip of the bear market.

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