Cycle Trading

The dollar has confirmed a new daily cycle.

The dollar printed its lowest point on day 8, which is too early to expect a daily cycle low. The dollar went on to close above the 10 day MA and then above the 200 day MA which convinces me that day 8 was the DCL. The dollar is in a daily downtrend. But a close above the upper daily cycle band would end daily and being a daily uptrend. Also, a close above the upper daily cycle band would indicate that the dollar has begun a new intermediate cycle.

Stocks

After closing at a new all time high on Wednesday stocks formed a daily swing high on Friday.

Friday was day 23 for the daly equity cycle. The new high on day 22 locks in a right translated daily cycle formation. The bearish divergences developing on the oscillators signal that cycle top is near. A convincing close below the daly cycle trend line will confirm the daily cycle decline. Stocks are currently in a strong daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.

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