Stocks Need To Cross The Line

While stocks closed above the 10 day MA last week to signal a new daily cycle …

…stocks still need to close above the declining trend line for confirmation that day 31 was the DCL. Instead, stocks formed a lower swing high on Monday. Stocks are currrenrlty in a daily downtrend. Forming a swing high below the upper daily cycle band signals a continuation of the daily downtrend and triggers a cycle band sell signal.

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