Bullish Follow Through

Stocks delivered bullish follow through on Tuesday.

Stocks formed a swing low and closed above the declining trend line on Monday to signal the new daily cycle. On Tuesday stocks delivered bullish follow through by closing higher. However, stocks were halted by resistance at the 10 day MA. Stocks should break above the 10 day MA and turn it higher as it rallies out of its daily cycle low. Stocks are in a daily uptrend and will remain so unless they close below the lower daily cycle band.

3 thoughts on “Bullish Follow Through

  1. Or is it just a retrace to 10dma on pre-fomc dollar weakness, so that, once fomc becomes past tense, dxy will turn back up in IC advances rotating all other assets in decline?

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