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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.