Stocks are in a daily uptrend that is characterized by highs forming above the upper daily cycle band and lows forming above the lower daily cycle band.
Stocks rallied on Monday. If stocks form a swing low above the lower daily cycle band then stocks will remain in their daily uptrend and trigger a cycle band buy signal. And we would label day 16 as a half cycle low.
Then a close back above the 10 day MA will indicate that the trend line remains intact and that the rally continues.