Cycle Trading

The Dollar

The dollar broke below the day 28 low on Monday to extend its daily cycle decline. 

The dollar formed a bullish reversal on Thursday, day 34, placing it in its timing band for a DCL.   The dollar then formed a swing low on Friday. A close above the converging 10 day MA and the 50 day MA will signal a new daily cycle.    The dollar is currently in  a daily downtrend.  The dollar will continue in its daily downtrend unless it closes back above the upper daily cycle band.

Stocks

Stocks were rejected by the declining trend line and the 50 day MA on Wednesday but found support at the 200 MA on Thursday.

Stocks are now being squeezed by the 200 day MA and the 50 day MA. Stocks are 23 weeks into its intermediate cycle. Stocks have not formed a failed daily cycle to indicate that week 22 was the ICL.

While the day 7 bearish reversal does set stocks up for a left translated daily cycle formation, stocks formed a bullish reversal off support from the converging 10 day MA and 200 day MA. A close above the 50 day MA will indicate that week 22 was the ICL. However, stocks are currently in a daily downtrend. A close below the converging 200 day MA and 10 day MA will indicate a continuation of the daily downtrend and signal both a cycle band sell signal and the daily cycle decline.

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