The Dollar
The dollar closed below the 10 day MA on Thursday then below the 50 day MA on Friday to confirm the daily cycle decline.
The previous daily cycle ran long at 46 days. So it is possible that the current daily cycle will run short. Support at the 200 day MA could trigger a DCL to form. The dollar is in a daily uptrend. If a swing low forms above the lower daily cycle band then the dollar will remain in its daily uptrend and will also trigger a cycle band buy signal.
Stocks
Stocks signaled a new daily cycle.
Stocks printed their lowest point on Monday, day 35, placing them in their timing band for a daily cycle low. Stocks formed a swing low on Tuesday. Unlike the previous recent swing lows that delivered no bullish follow through, stocks did deliver bullish follow though on Wednesday by closing above the 10 day MA to signal a new daily cycle. Stocks still need to break above the declining trend line to confirm the new daily cycle. Stocks continue to close below the lower daily cycle band, indicating that stocks are in a daily downtrend. Stocks will remain in their daily downtrend until they can close back above the upper daily cycle band.
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