Stocks: Bullish Development But Still Need To Cross The Line

Stocks closed above the declining 10 day MA on Thursday

Stocks printed their lowest point on Friday, day 19, which is very early for a DCL. But with the previous daily cycle being stretched at 60 days, a shortened daily cycle would help to balance out the cycle counts.  We will Thursday’s close above the 10 day MA to label day 19 as an early DCL. Stocks still need to break above the 3943 resistance level and turn the 10 day MA higher to be assured that day 19 did, indeed, host an early DCL.

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 )

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.