Cycle Trading

The dollar continued to consolidate the big sell off from the previous week.

Monday the dollar printed the top to a mini triangle consolidation pattern. Wednesday the dollar printed the lowest point since the cycle peak. The dollar reversed Thursday and then again on Friday ending this week with Friday being either day 2 or day 22.

A break above Thursday’s high of 83.02 shifts the odds of Friday being day 2. A break below Wednesday’s low of 82.34 signals the daily decline is still unfolding.

Stocks

Stocks began this week consolidating recent gains before breaking out Thursday and Friday.

Friday was day 18 for the daily equity cycle. At 18 days, the odds of this daily cycle forming as a right translated cycle grows each day. A right translated daily cycle will provide final confirmation that this is a new intermediate cycle.

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