Cycle Trading

The Dollar

The dollar printed a bearish reversal on Wednesday. The dollar broke above Wednesday’s high on Thursday and delivered bullish follow through on Friday to negate the bearish reversal.

The dollar is now stretched above the 10 day MA. A new high on day 19 locks in a right translated daily cycle formation, which aligns with the dollar being in a daily uptrend.  The dollar will continue in its daily uptrend unless it closes below the lower daily cycle band. 

Stocks

Stocks closed below the declining 10 day MA on Friday.

After forming a swing low, Stocks have been crawling along the declining 10 day MA. Stocks will need to break bullishly above the 10 day MA and turn it higher to confirm day 22 as the DCL. However, stocks formed a swing high on Friday. Stocks are currently in a daily downtrend. Forming a swing high below the upper daily cycle band indicates a continuation of the daily downtrend and triggers a cycle band sell signal.

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