Stocks Deliver Weekly Buy Signal

Stocks closed lower on Monday.

But the bigger picture is that stocks have formed a weekly swing low this week.

Stocks printed their lowest point last week, which was week 23. That placed stocks in its timing band for an intermediate cycle low. The weekly swing low, breaking above the declining weekly trend line, and breaking above the 10 week MA all confirm that this is week 1 for the new intermediate cycle. Stocks have been in a weekly uptrend. And since the weekly swing low formed above the lower weekly cycle band, stocks remain in their weekly uptrend and that triggers a weekly cycle band buy signal.

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