NATGAS broke above the declining trend line last week to signal the new daily cycle. And by closing above the upper daily cycle band last week NATGAS appeared to be establishing a daily uptrend. Today NATGAS confirmed the new daily uptrend.
Tuesday was day 7 for the daily NATGAS cycle. By closing above the upper daily cycle band in such a clear and convincing manner, NATGAS has confirm that it is in a new daily uptrend. NATGAS will remain in the daily uptrend until it closes below the lower daily cycle band.
NATGAS prints a multi-year low about every 30 – 35 months. NATGAS printed its lowest point in March after declining for over 25 months. March was month 47, placing NATGAS deep in its timing band to print a 3 year cycle low. While we still need to see a break of the declining monthly trend line to confirm that NATGAS is in a new 3 year cycle, the way that NATGAS sliced through the 200 day MA adds to my conviction that it is leaving behind its 3 year cycle low.
Stocks are also in a confirmed uptrend.
Tuesday was day 6 for the daily equity cycle and stocks printed another higher high. While stocks did close lower on Tuesday than last Friday, stocks still closed above the upper daily cycle band which indicates that stocks are in a daily uptrend. Stocks will remain in the daily uptrend until they close below the lower daily cycle band.