Cycle Trading

The Dollar

The dollar formed a swing high and closed below both the 10 day MA and the 50 day MA causing the 10 day MA to turn lower. This signals that the daily cycle is in decline.

A peak on day 7 indicates a left translated daily cycle formation. The dollar did rally Thursday and Friday. But if the dollar is rejected by the 50 day MA and forms a swing high then that will allow us to construct the declining cycle trend line. The dollar is in a daily downtrend & will remain so unless it closes above it the upper daily cycle band.

Stocks

Stocks continue to emerge from the day 34 DCL.

Stocks are being squeezed by resistance at the declining 50 day MA and support from the rising 10 day MA. The large BOW on Friday favors a bullish resolution. Still, stocks are in a daily downtrend. They will remain in its downtrend unless they close above the upper daily cycle band.

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