Stocks Enter Daily Downtrend – Watching 50-Day MA for Support
Stocks closed above the 6750 level on Wednesday. While stocks broke out to a new high on Thursday, that was reversed and stocks closed lower on the day — closing below the 6750 level. Stocks delivered bearish follow through on Friday. Stocks formed a swing high on Friday and closed below the 10 day MA to signal the daily cycle decline. Friday was day 28, placing stocks in their timing band for…














