Cycle Trading

The Dollar 

The dollar broke bullishly out of consolidation on Thursday. The new daily cycle high on day 15 shifts the odds toward a right translated daily cycle formation.

The dollar did not deliver any bullish follow through on Friday. The dollar is overdue for a recognizable intermediate cycle decline.  A swing high and close below the 10 day MA would set the dollar up for a bull trap which could lead to the intermediate cycle decline. However, the dollar is currently in a daily uptrend.  The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.  

Stocks

Stocks are still seeking out the DCL.

Stocks formed a swing low on Friday.

Thursday was day 52, placing stocks deep in their timing band for a DCL. Stocks will need to close above the converging 50 day MA and 10 day MA to signal the new daily cycle.  But a break below the day 52 low of 3903.65 will extend the daily cycle decline. Stocks are currently in daily downtrend.  They will remain in their daily downtrend unless they close back above the upper daily cycle band.

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