Cycle Trading

The current daily cycle for the dollar peaked on day 6 and has since been in decline.

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The dollar began this week trying to rally. That soon fizzled out with the dollar being soundly rejected by the declining trend line Tuesday. Thursday’s reversal looked as if the dollar may have left behind an early daily cycle low only to see the dollar close lower on Friday. The dollar will enter its timing band for a daily cycle low on Monday which can stretch for two weeks. A swing low accompanied by a declining trend line break will confirm a new daily cycle.

Stocks

The daily equity cycle peaked on day 21, which was a week ago Friday. A swing high formed on Monday. Stocks then went on to break below the daily cycle trend line on Tuesday signaling a daily cycle decline.

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Friday was day 26 for the daily equity cycle. Stocks appear to have entered their daily cycle decline. The True Strength Indicator also broke below the zero line this week. A TSI break below the zero line normally heralds a daily cycle decline.

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