Stocks peaked on day 26 & formed a daily swing high the next day. Stocks then broke below the daily cycle trend line last Thursday to signal the daily cycle decline. The clear & convincing close below the 10 day MA confirms the daily cycle is in decline.
A peak on day 26 assures us of a right translated daily cycle formation. So our cyclical expectation is to see stocks print a higher daily cycle low. Which aligns with what the daily cycle bands tell us, which is that stocks are in a daily uptrend & will remain so unless they close below the lower daily cycle band.
But stocks are in their timing band for a yearly cycle low. I suspect that once the impending daily cycle low prints that the next daily cycle will form as a left translated failed daily cycle to usher in the yearly cycle decline.