Friday was day 13 for the daily dollar cycle and the dollar formed a swing high off the day 12 peak.
While a swing high does not guarantee a cycle peak, a cycle cannot begin its primary decline without one. So the question is if this swing high is significant?
There is no way to tell for certain if this swing high is significant. However, we do see that the dollar is coiling and it often occurs at a cycle peak.
Here are some other examples of the dollar coiling before declining into its primary cycle decline.
So if the dollar breaks lower out of the coil, the odds are good that it has entered its primary daily cycle decline.
The daily equity cycle peaked on day 28 and looks to have bottomed on day 46.
While stocks have trended higher, we still lack confirmation of a new daily cycle. A break above the declining cycle trend line will confirm day 46 as the daily cycle low.
Assuming that day 46 marked the daily cycle low, our expectation is to see this daily cycle form as a left translated cycle. The 156 S.O.S. print on Friday for the SPY seems to agree.
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