Stocks broke below the day 37 low on Friday to extend their daily cycle decline. Friday was day 43, placing stocks deep in their timing band for a DCL.  Stocks formed a reversal off the 5300 level, which eases the parameters for forming … Read on blog or Reader Cycle Trading Read on blog or Reader Volatility – Update By likesmoneystudies on August 3, 2024 Stocks broke below the day 37 low on Friday to extend their daily cycle decline. Friday was day 43, placing stocks deep in their timing band for a DCL.  Stocks formed a reversal off the 5300 level, which eases the parameters for forming a swing low.   A break above 5383.89 will form a swing low.  Then a close above the 10 day MA will signal the new daily cycle.    Stocks are currently in a daily downtrend.  Stocks will remain in their daily downtrend unless they close back above the 10 day MA.  In the Weekend Report I will discuss the longer term intermediate and yearly cycles and the implications of the pending new daily cycle. Comment Like You can also reply to this email to leave a comment.

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