Cycle Trading

The Dollar

The dollar formed a swing high on Thursday.

The new high on day 24 assure us of a right translated daily cycle formation. 24 days also places the dollar in its timing band for a daily cycle decline. A close below the 10 day MA will signal the daily cycle decline. The dollar currently is in a daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

Stocks broke out to a new high on Wednesday then delivered bullish follow through on Thursday.

Thursday was day 20 for the daily equity cycle. A new high on day 20 shifts the odds towards a right translated daily cycle formation. Closing above the day 9 high signals the continuation its intermediate cycle advance.

The 3975 level was a resistance level.

Closing above the 3975 resistance level signals the continuation of the intermediate cycle advance. The 3975 level should now be support, which will be our stop.

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