Cycle Trading

The Dollar
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The dollar formed a swing low on Friday.

Thursday was day 13 for the daily dollar cycle. That is 5 days shy of the dollar’s timing band to print a daily cycle low. So there is still time for another push lower before forming a daily cycle low. The dollar is in a daily down trend. It will remain in a down trend until it can close above the upper daily cycle band.

Stocks
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Stocks remain above the upper daily cycle band, indicating a daily uptrend. Friday’s huge Selling on Strength number indicates that stocks still need to complete their daily cycle decline.

Following the day 29 swing low, stocks went on to print a higher high on day 34. A swing high formed on day 36 that coincided with a TSI trend line break. The True Strength Indicator then delivered a bearish zero line crossover on Friday which indicates the daily cycle decline is imminent.

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