We have option expiry to end the week on Friday in the U.S. so we need to be aware of that. This 21 day cycle is just something that I follow out of interest. For the third time this cycle has been up which has been quite a change from the previously down days that followed the cycle close. The last time the this cycle close was bullish was back in October 2014 when we had the rip your face off rally. The following eleven cycles were down. The same bullish type of rally as last October, kicked off this set of bullish cycles starting this October. The interesting thing here is that this is not a particularly bullish looking trend. Price is back above the daily kumo but it looks more like a distribution pattern. We need to see how the markets end the week now that we have the FOMC out of the way.
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