Cycle Trading

The Dollar

The dollar continued lower to print its lowest point on Friday.

Friday was day 31, which places the dollar in its timing band for a DCL.  The narrow range day eases the parameters for forming a swing low. A swing low and close back above the declining trend line will signal a new daily cycle.   A break above 90.87 will form a daily swing low. Currently, the dollar is in a daily downtrend. The dollar will remain in its daily downtrend until it can close back above its upper daily cycle band

Stocks

Stocks broke above the day 6 high on Tuesday and continued higher through Friday. 

A new daily cycle high on Friday, day 24, locks in a right translated daily cycle formation.  Breaking above the day 6 high sets stocks up for a second leg higher during this daily cycle advance and we will construct an accelerated (blue dashed) trend line to monitor. Stocks are in a strong daily uptrend and may have just started a possible melt up into a bubble scenario.  

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The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles.
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