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Stocks Form Swing Low — Can Bulls Confirm a Half Cycle Low?
Summary Stocks formed a swing low on Thursday after closing below the 50 day moving average on Wednesday Day 12 peak suggests left-translated cycle remains a threat Bulls must reclaim and hold the 10 day moving average Failure to do so risks resuming the daily downtrend A close back under the 50 day moving average would trigger a cycle band sell signal Stocks broke bearishly out of…
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Fed To The Rescue
Fed To The Rescue
Stocks formed a swing low on Tuesday.
We discussed on Monday why I felt that the Fed could not let the markets develop any bearish follow through to Thursdays’ huge drop. Stocks forming a swing low on Tuesday signals that the Fed has managed to abort (for now) an intermediate cycle decline by forcing stocks to print, what I believe is, an early daily cycle low.
While it is debatable that 21…
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