Stocks are being squeezed by the rising 10 day MA and the declining 200 day MA.
Friday is day 30 for the daily cycle, placing stocks in the early part of their timing band for a DCL. There is a chance that stocks will again be rejected by the 200 day MA – which would then send stocks into a daily cycle decline.
However, stocks could deliver a bullish surprise and breakout above the 200 day MA. Typically breakouts that occur later in the timing band for a DCL are rarely sustained. If stocks break above the 200 day MA here, a daily cycle decline that backtests the 200 day MA would likely be needed before a trending move to be sustained.