Cycle Trading

Friday was day 13 for the daily dollar cycle and the dollar printed a bearish reversal.

The current daily cycle follows a left translated, failed daily cycle. This cycle has peaked on day 6, broke below the previous daily cycle low on day 10. There was an oversold bounce on day 11.
With the bearish reversal on Friday. The dollar should continue lower into its daily cycle low. The timing band for a low is between days 18 & 28 which leaves another week to three weeks to print a low.

Stocks

The first 4 days of last week saw equities right up against the resistance at the 1600 level. Friday stocks sailed through that level.

Friday was day 11 for the daily equity cycle. The double reversal on Wednesday and Thursday looks like it set the daily cycle trend line.

This is the fourth daily cycle of the current intermediate cycle. Most intemediate cycles last between 3 or four daily cycles. If this is the terminal daily cycle, then it should set a cycle peak by day 20.

However, if the dollar takes two more weeks to print its daily cycle low, then this has a good chance as forming a right translated daily cycle and needing a fifth daily cycle.

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