The Dollar
The dollar formed a daily swing high on Friday.
Friday was day 35 for the dollar’s daily cycle. That places the dollar in its timing band for a daily cycle low. A close below the 10 day MA will indicate the daily cycle decline. The dollar then should break below the daily cycle trend line before forming its DCL. The dollar is in its daily uptrend and will remain so unless it closes below the lower daily cycle band.
Stocks
Stocks formed a daily swing high on Thursday and then closed below the 10 day MA on Friday.
Stocks closed below the 10 day MA on Friday and have begun to turn the 10 DMA lower — indicating that stocks have begun their daily cycle decline. Stocks did back test the previous daily cycle high on Friday. It is possible that if stocks form a swing low on Monday, then we would label Friday as a half cycle low. But if stocks deliver bearish follow through on Monday that would indicate the daily cycle decline. A peak on day 12 would set stocks up for a left translated daily cycle formation which would herald the intermediate cycle decline. Stocks are currently in a daily uptrend and will remain so unless they close below the lower daily cycle band.
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