Cycle Trading

The dollar printed its lowest point on Wednesday, day 24, placing it in its timing band for a daily cycle low.
 

While the dollar printed a swing low on Thursday, it remained contained by the declining daily trend line. The dollar then broke lower on Friday. A break below the previous daily cycle low of 95.70 will form a second consecutive failed daily cycle. With Friday being day 26, the dollar could trend lower for another 1 to 2 weeks before printing its daily cycle low. The dollar is in a daily downtrend and will remain so unless it can close back above the upper daily cycle band.

Stocks

Stocks printed a new daily cycle high on Wednesday.

Wednesday was day 21 for the daily equity cycle. The new high on day 21 starts to shift the odds towards a right translated daily cycle formation. After coiling for the past week below the 3200 level, stocks closed above the resistance level and consolidated above the 3200 level through Friday. Stocks are in a daily uptrend. A break above Wednesday’s high of 32328.28 will trigger a cycle band buy signal. We will use a close below the 3200 resistance now-turned-support level to signal the daily cycle decline.

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