Cycle Trading

The Dollar

The dollar formed a swing low on Friday.

The dollar printed its lowest point on Wednesday, day 24, retracing to the 50% fib level.  That places the dollar in the early part of its timing band for a daily cycle low.  The dollar formed a swing low on Friday, closing back above the 50 day MA, to signal a new daily cycle. A close above the 10 day MA would confirm the new daily cycle. The dollar is currently in a daily uptrend.  Friday’s swing low formed above the lower daily cycle band to indicate that the dollar remains in its daily uptrend and triggers a cycle band buy signal.

Stocks

Stocks continue to print higher highs.

Friday was day 10 for the daily cycle and RSI 5 is once again embedded in overbought.

RSI embedding quickly after emerging from its DCL is characteristic of an intermediate cycle advance. This aligns with stocks being in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.

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