Stocks Running Into Resistance

Stocks printed a new daily cycle high on Monday. The new high on day 29 locks in a right translated daily cycle formation.

At 29 days, stocks are in the early part of their timing band for a DCL. Stocks are getting stretched above the 10 day MA and they are running into resistance at the 4150 level. If stocks can break through this resistance then there is little to stop them for testing the 200 day MA. But, rejection by the 4150 resistance level would signal the daily cycle decline. Stocks are currently in a daily uptrend.  Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.  

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