Cycle Trading

The dollar broke below the day 40 low on Tuesday to extend its daily cycle decline.

Tuesday was day 48, placing the dollar deep in its timing band for a DCL. The dollar formed a swing low on Wednesday and delivered bullish follow through by closing above the declining trend line on Friday to confirm the new daily cycle. Currently, the dollar is in a daily downtrend. It will remain in in its daily downtrend unless it closes above the upper daily cycle band.

Stocks

Stocks formed a swing high on Thursday but negated it by closing higher on Friday.

Friday was day 48 for the daily equity cycle, placing stocks deep in their timing band for a daily cycle low. Since breaking above the day 27 high, stocks have been going pretty much straight up and appear to be rallying into their intermediate cycle peak. A swing high and close below the accelerated (blue) trend line will signal the daily cycle decline. Stocks continue to close above the upper daily cycle band to indicate a daily uptrend. Stocks remain in their daily uptrend unless they close below the lower daily cycle band.

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