Tuesday was day 21 for the daily equity cycle. While stocks gave back some gains on Tuesday I believe that the bigger picture is bullish.
Buyers began to step in at the end of the day on Tuesday.
And there was a modest Buying on Weakness day as well.
And the bigger picture is that stocks are only on week 5 of the new intermediate cycle. And I believe that stocks are rallying out of their yearly cycle low. The first intermediate cycle out of the yearly cycle low should form as a right translated weekly cycle. And the previous to weekly cycles peaked at weeks 19 and 22 respectively. So I believe that this intermediate rally has only begun.