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Stocks- The Big Picture

Stocks have been consolidating in a narrow range for the past 6 days. Stocks have been stair-stepping higher, consolidating in order to allow the 10 day MA to catch up to price, and then star-stepping higher some more. Thursday was day 51 placing stocks deep in their timing band for a daily cycle low. At this point we would need to see a close below the 10 day MA and some bearish follow through…