The action seemed to change ever since the market hit the round numbers 2 weeks ago. The market made lower lows in 4 out of 5 trading days last week. Friday saw a bounce coming, but that bounce proved weak, ending with a cross type of daily candle (close equals the open, despite the intra-day swings. Usually points to a change of trend, or indecision).
The weekly cycles saw finally a clearer retrace and “dent” in the up move. The up impulses are still fully ongoing, so the picture is still bullish.
The daily cycles show more clear where the decline stopped. The mcm-MA managed to provide support yet again - it did so several times in the past, so at least for now, the picture is still bullish. No new signal, except the fact that the directionality tool moved down, being the first bearish sign in a while.
The 288 and 480min cycles
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