Stocks Print a Swing High

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Stocks printed a swing high today which calls into question if day 29 hosted a stealth daily cycle low.

spx bias

Stocks have been closing above the upper daily cycle band since early March which indicates that they are in a daily uptrend. The previous 3 times that stocks printed a swing high did not result in any extended correction. But since day 29 was close to the timing band for a daily cycle low we needed to be open to a stealth low forming.

spx daily

So the swing low that formed today reverses and resumes higher, that would provide more evidence that day 29 hosted a stealth daily cycle low. However, if stocks continue lower and close below the upper daily cycle band, that would indicate that stocks are now declining into their daily cycle low which would make today day 36.

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2 thoughts on “Stocks Print a Swing High

  1. It would be nice if you would explain your cycle theory.
    How long is a cycle ??
    Is is a fixed number of days ?
    To my knowledge some cycles are 44 days and some are 34.

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