The 8/14/19 Morning Update

Stocks were contained by the double resistance of the 10 day MA and the 50 day MA on Friday and continued lower on Monday. However stocks rallied on Tuesday.

Stocks printed their lowest point on day 44, placing them deep in their timing band for a DCL. Stocks closed above the 10 day MA on Tuesday to indicate that day 44 did host the DCL. A close above the 50 day MA will confirm that day 44 was the DCL. Stocks have begun to close below the lower daily cycle band indicating a daily downtrend. Stocks will remain in their daily downtrend unless they can close back above the upper daily cycle band.

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