After forming a daily swing high on Monday, stocks delivered bearish follow through on Tuesday.
Tuesday was day 32 for the daily equity cycle. That places stocks in their timing band for a daily cycle low. Closing below the 10 day MA signals the daily cycle decline. Stocks should go on to break below the (blue) daily cycle trend line as it seeks out its daily cycle low. Stocks are currently in a daily uptrend and will remain so unless they close below the lower daily cycle band.