Bullish Signal

Stocks delivered a bullish signal on Monday.

Stocks formed a bullish RSI reversal on Monday.

Stocks have been in a daily uptrend that has been characterized by highs occurring above the upper daily cycle band and lower forming above the lower daily cycle band. Another characteristic is having RSI become embedded in overbought. Monday’s quick bullish RSI reversal is a signal that stocks will resume their daily uptrend. Stocks did form a swing low on Monday. A close above the 10 day MA will indicate a continuation of the daily uptrend and trigger a cycle band buy signal.

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