Cycle Trading

The dollar printed a huge bearish reversal on day 13. That was negated this week.

Despite forming a daily swing high on Monday, the dollar managed to regain the 10 day MA. Then the dollar continued higher into Friday. The new high on Friday, day 18, assures us of a right translated daily cycle formation. The dollar continues to be in daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

The status of the daily cycle clarified on Friday.

The status of the daily cycle had not been since printing the day 44. Stocks began to rally on Tuesday and continued higher into Friday’s close. Stocks closed above the declining trend line on Thursday. Stocks then delivered bullish follow through on Friday and also managed to turn the 10 day MA higher. Therefore we will label day 44 as a DCL. Currently the daily cycle peak occurred on day 6. Stocks will need to break above the day 6 high of 22943.31 in order to right translate the daily cycle. Currently stocks are in a daily downtrend. They will remain in their daily downtrend unless they can close back above the upper daily cycle band.

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