Stocks delivered bullish follow through on Tuesday to confirm that Friday hosted the daily cycle low.
Tuesday was day 2 for the daily equity cycle and stocks closed solidly above the accelerated declining trend line. Stocks also delivered a bullish zero line crossover on the True Strength Indicator. While not all TSI bullish zero line crossovers mark a daily cycle low, all DCL’s are accompanied by a TSI bullish zero line crossover. If stocks manage to close above the upper daily cycle band that will indicate an end of the daily downtrend.
The Miners remain in a daily downtrend.
Tuesday was day 20 for the daily Miner cycle. That places the Miners in their timing band for a daily cycle low. A swing low and a close above both the 10 day and 200 day MA would signal that the Miners have printed a daily cycle low. Then a close above the upper daily cycle band would signal an end to the daily downtrend.