Cycle Trading

The dollar also broke above the declining trend line and closed above the 10 day MA on Friday. All of which confirms that Thursday was the DCL. The dollar continues to be in a daily uptrend. It will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

Stocks negated the swing high by closing back above the 2800.18 resistance level.

Closing above the 2800 level is a bullish signal for technical traders. But at 45 days, stocks are in their timing band for a DCL. And stocks printed 716 million Selling on Strength on Friday. This signals caution. A swing high followed by a close below the 10 day MA should send stocks to seek out their DCL. The new high on Friday, day 45, locks in a right translated daily cycle formation which aligns with stocks being in a daily uptrend. Once the daily cycle decline begins, if a swing low forms above the lower daily cycle band then stocks will remain in their daily uptrend.

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