In the Weekend Report we discussed the intermediate bond cycle and speculated that it was ready to begin its intermediate cycle decline.
Today bonds confirmed they are in an intermediate cycle decline.
The previous daily bond cycle peaked on day 29 and printed its daily cycle low on day 32. The subsequent rally out of the day 32 low peaked on day 5. Bonds formed a swing high on Friday and today broke below the day 32 low, forming a failed daily cycle. The failed daily cycle confirms that bonds have begun their intermediate cycle decline. With Tuesday being only day 9, bonds may need another 6 to 16 days before printing their daily cycle low.
Today, stocks also confirmed something we suspected in the Weekend Report.
We discussed in the Weekend Report that the higher highs indicated that an intermediate cycle low was left behind. By closing above the upper daily cycle band today, stocks delivered the first confirmation that February 11th hosted the intermediate cycle low.
The confirmation of this being a new intermediate cycle dovetails into the Fractal Energy Special Report from Sunday.
In the Special Report: Fractal Energy, we looked at the historic release of Fractal Energy and the resulting trending moves. Then we looked at the current set up to see how close we are to another release of Fractal Energy.
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