Bullish Expectations

Stocks closed again at all time highs.

Stocks are in the first daily cycle for a new intermediate cycle. The first daily cycle typically forms as a right translated daily cycle that often peaks on or after day 30. Right now stocks are getting a bit stretched above the 10 day MA and may need to consolidate to allow the 10 day MA to catch up to price. Stops should be honored if stocks break below the previous daily cycle high of 4545.85, Stocks are currently in a daily uptrend and will remain so unless they close below the lower daily cycle band.

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