Stocks Deliver Bearish Break

Stocks broke out above the day 17 high on day 24. They had been consolidating above the day 17 high — until Monday.

Stocks broke bearishly out of consolidation on Monday to close below the day 17 high and the 10 day MA. At 30 days, any bearish follow through will signal the daily cycle decline. Stocks should then go on to break below the daily cycle trend line in order to complete their daily cycle decline. Stocks are currently in a daily uptrend. But a close below the lower daily cycle band will end the daily uptrend and begin a daily. downtrend.

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