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.