Stocks formed a swing high and broke below the trend line on Monday.
Stocks continued lower on Tuesday to print a lower low, but ended up closing higher on the day. Then stocks formed a swing low on Thursday. Tuesday was day 19, which is too early to expect a daily cycle low. Thursday's swing low will have us re-draw the daily cycle trend line and label Tuesday as a half cycle low.
Stocks have been closing above the upper daily cycle band which means that they are in a daily uptrend. Thursday's swing low signals that stocks will remain in their daily uptrend and trigger a cycle band buy signal with the stop being Tuesday's low.
"cycle" - Google News
January 03, 2020 at 05:15AM
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Cycle Trading: Half Cycle Low - FXStreet
"cycle" - Google News
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