The Dollar
The dollar printed its lowest point on Monday, day 46, placing the dollar late in its timing band for a daily cycle low.
The dollar formed a swing low on Tuesday. It closed above the 10 day MA on Thursday. It then closed above both the 50 day MA and the 200 day MA on Friday, confirming the new daily cycle. The dollar also closed above the upper daly cycle band. Closing above the upper daily cycle band ends the daily downtrend and begins a new daily uptrend. It also indicates that the intermediate cycle low has been set.
Stocks
Stocks rallied late on Friday to close up over 9%.
It appears that the Fed orchestrated the rally on Friday to happen after Trump declared a national emergency.
Stocks printed their lowest point on Thursday, day 28. That places stocks in the early part of its timing band for a DCL. The bullish divergences on the oscillators indicate that Friday’s swing low signals a new daily cycle.
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