Cycle Trading

The dollar formed a swing low on Friday. If the dollar regains the 10 day MA then we will label day 21 as a half cycle low. But a break below the daily cycle trend line will indicate the daily cycle decline. The dollar is in a daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

Stocks closed above the 10 day MA on Monday and above the 50 day MA on Wednesday to confirm the new daily cycle.

Stocks became a bit stretched above the 10 day MA on Thursday then closed below the 50 day MA on Friday. No doubt news of President Trump contracting Covid drove stocks lower. Stocks may need to crawl along the 50 DMA which will allow the 10 day MA to catch up to price. Stocks are currently in a daily downtrend. A close back above the upper daily cycle band will end the daily downtrend and begin a new daily uptrend. Closing back above the upper daily cycle band will also indicate that stocks are now in a new intermediate cycle.

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