Cycle Trading

The Dollar

The new daily cycle high on 21 shifts the odds towards a right translated daily cycle formation. That aligns with the dollar being in a daily uptrend and rallying out of an intermediate cycle low.

The dollar printed a huge bearish reversal on Friday. This eases the parameters for forming a swing high. A break below 90.96 will form a swing high. Then a break below the daily cycle trend line will indicate the daily cycle decline.

Stocks

Stocks broke out to new highs on Thursday and delivered bullish follow through on Friday. 

Friday was day 5 for the new daily cycle. The quick bullish reversal of RSI is characteristic of an intermediate cycle advance. RSI is approaching overbought. If RSI embeds in overbought that would indicate a resumption of the intermediate cycle advance.

A resumption of the intermediate cycle advance would signal that the breakout continues to advance. 

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