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Cycle Trading: Assuming leadership

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Stocks are seeking their daily cycle low

Cycle Trading: Assuming leadership

The S&P formed a swing low

Cycle Trading: Assuming leadership

The Dow formed a swing low

Cycle Trading: Assuming leadership

The Nasdaq formed a swing low and closed above the 10 day MA.

Cycle Trading: Assuming leadership

The Banks have yet to form swing low

Cycle Trading: Assuming leadership

The Semi's have yet to form swing low

Cycle Trading: Assuming leadership

Not only did Biotech form a swing low, they closed for a 2.5% gain on Friday.

Cycle Trading: Assuming leadership

With Biotech breaking out of a multi year consolidation they are indicating a readiness for assuming market leadership.

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