Cycle Trading

The dollar broke below the previous daily cycle low on Monday to form a failed daily cycle. It then continued lower into Friday.
 

Breaking below the previous daily cycle low caused the dollar to enter a bloodbath phase, which can last 5 to 7 days. Friday was day 31, placing the dollar in its timing band for a daily cycle low. We will see when we look at gold and the Miners that their rallies accelerated once the dollar formed a failed daily cycle. And the precious metal sector will likely continue to rally until the dollar prints a swing low. The dollar currently is in a daily downtrend.  It will remain in its daily downtrend until it can close back above the upper daily cycle band.

Stocks

Stocks formed a bearish reversal on Thursday and delivered bearish follow through on Friday.

Stocks formed a swing high and closed below both the daily cycle trend line and the 10 day MA to indicate the daily cycle decline. Friday was day 28 for the daily equity cycle. This places stocks 2 days shy of its timing band for a daily cycle low. Stocks should cause the 10 day MA to turn lower before printing its DCL. Stocks are in a daily uptrend. They will continue in their daily uptrend unless they close below the lower daily cycle band.

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