Cycle Trading

The Dollar

The dollar finally broke above the declining trend line on Wednesday to confirm that day 26 hosted the DCL.

The dollar’s highest point so far was Wednesday, day 8. If the dollar fails to break above Wednesday’s high of 92.50 then it will form another left translated daily cycle. The dollar is in a daily downtrend. It will remain in its daily downtrend until it can close above the upper daily cycle band.

Stocks

Stocks broke out to a new high on Wednesday, day 21. That assures us of a right translated daily cycle formation and provides more evidence that August 21st hosted the ICL.

After printing a new daily cycle high on Wednesday, stocks drifted lower into Friday. But Friday’s bullish closed allowed stocks to remain above the 10 day MA. If a swing low forms then that would indicate that Thursday was a very mild half cycle low. If stocks continue lower and break below Wednesdays’ low of 2496.67 that will form a swing high to indicate the daily cycle decline. However, stocks remain locked in a daily uptrend so any dip is a buying opportunity. Stocks will continue it its uptrend until it closes below the lower daily cycle band.

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