The daily equity cycle has been forming a mini triangle consolidation since peaking last Thursday which was day 19.
Stocks are currently on day 24 for their daily cycle. That is 6 days shy of the normal timing band for a daily cycle low. Closing below the 10 day MA along with the bearish TSI divergence suggest that stocks are setting up for completing their daily cycle decline.
So if stock break bearishly to complete their daily cycle decline the bigger picture is that stocks are in a daily uptrend. This uptrend is characterized by peaks above the upper daily cycle band and lows forming above the lower daily cycle band. So even is stocks decline into a daily cycle low, they will remain in their daily uptrend until they close below the lower daily cycle band.