The Dollar
The dollar printed its lowest point on day 48 to place it deep in its timing band for a DCL
While the dollar formed a swing low and closed above the declining trend line it has not turned the 10 day MA higher. Then on Friday the dollar broke lower. A break below the day 48 low of 92.14 will extend the daily cycle decline. 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 are forming a megaphone topping pattern
Stocks are stretched above the 200 day MA and tagging the upper stem of the megaphone topping pattern. Once stocks form a swing high accompanied by a close below the daily cycle trend line – that will signal the daily cycle decline. With stocks in their timing band for an intermediate cycle decline – once the daily cycle decline begins that could trigger the intermediate cycle decline and a revision to the mean.
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