Cycle Trading

The Dollar 

The dollar broke below the previous daily cycle low on Wednesday to form a failed daily cycle, confirming the intermediate cycle decline.

The dollar printed its lowest point on Thursday, day 17, placing it in the early part of its timing band for a DCL. The dollar formed a swing low on Friday. A close above the converging 10 day MA and 50 day MA will signal the DCL. The dollar is currently in a daily downtrend. The dollar will remain in its daily downtrend unless it closes back above the upper daily cycle band.

Stocks

Stocks closed above the 50 day MA on Friday.

Stocks are in a daily uptrend. Forming a swing low above the upper daily cycle band indicates that stocks will remain in their daily uptrend and signal a cycle band buy signal. The next major resistance looks to be the previous daily cycle high and the 200 day MA.

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