Dow

Price continues to grind higher into the 8hour bolly and towards the daily, and as discussed yesterday, the trend has turned '5 bar blue' - that is, the moving averages used as proxies for the Hurst cycles from 1.5625 days to 50days are all crossed above each other in a bullish stack. Now, whether this is the last vapors of a 'B' retracement or the basing of a new leg up is for the market to decide but we are getting long in the day now for a turn down. Price is poking its nose trough the 25day green FLD which sets the scene for a decision at least. The second chart shows the first 1.5625day/3.125 day band of the '5 bar panel' and it remains up and bullish, above the pink line which is the FLD for the trend, one lesser degree again. Price has to cut down through both of these to get matters waterfalling down and for now, price is doing a good job of avoiding that. This however is the same set up as the previous 'b' at 15344, so we are getting close to something for sure.