Cycle Trading

Friday was day 5 for the daily dollar cycle.

After printing an extremely right translated daily cycle, the dollar has had trouble finding its footing. The dollar may even have peaked on Tuesday, which was day 2. If the dollar breaks below last Friday’s low of 82.051 then that would confirm that this daily cycle is in decline.

Stocks

Day 18 saw stocks catching a bid.
Stocks have yet to break above the declining mid-cycle trend line to confirm that the mid-cycle correction is over.

In contrast, there was a SOS print of 35 million suggesting that there is still some selling pressure.

The Miners

The Miners certainly do appear that a intermediate cycle low was left behind two weeks ago.

The Miners broke out to a three week high this week and formed a weekly swing low in the process.
The Miners need to travel above the 400 level to break above the declining cycle trend line in order to confirm a new intermediate cycle.
A right translated daily cycle will likely print before a declining cycle trend line occurs.

Supportive of an intermediate cycle low being left behind two weeks ago is the weekly RSI (5) is about to cross above the 30 line.
There is also a bullish crossover on the TSI. Please note that bullish and bearish TSI crossovers do tend to sync well to trend changes.

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