Stocks Form A Swing High

Stocks formed a swing high on Tuesday.

Tuesday was day 26 for the daily equity cycle.  That places stocks 4 days shy of their timing band for a DCL. Any bearish follow through should send stocks into their daily cycle decline. A daily cycle decline would allow stocks to backtest the breakout level and allow sentiment to cool off. This would set stocks up to emerge from a DCL heading into the most bullish time of the year. Stocks are currently in. a daily uptrend. If they form a swing low above the lower daily cycle band then they will remain in their daily uptrend and trigger a cycle band buy signal.

Leave a Reply

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

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

Google photo

You are commenting using your Google 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.