Stocks Form Weekly Swing High

Stocks Formed a Weekly Swing High on Tuesday.

Stocks are now 27 weeks into the current intermediate cycle. That places them deep in their timing band for an intermediate cycle decline.

There are bearish divergences developing on the oscillators and the True Strength Indicator has formed a bearish crossover. With a peak on day 10, if stocks deliver bearish follow through to close below the 10 day MA that would set stocks up for a left translated daily cycle formation. Then a break below the previous daily cycle high of 4480.26 can be used as a hard stop to to avoid a potential ICL decline.

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