Cycle Trading

The Dollar

The dollar closed back below the 10 day MA on Thursday.

The dollar printed its lowest point on Thursday, day 24. That places it in the early part of its timing band for a DCL. The dollar did not deliver bearish follow through on Friday, but instead formed a bullish candle. This eases the parameters for forming a daily swing low. The dollar is currently in a daily uptrend. If the dollar forms a swing low above the lower daily cycle band that will indicate a continuation of the daily uptrend and signal. a cycle band buy signal. A break above 104.05 will form a daily swing low. 

Stocks

Stocks broke bullishly out of consolidation on Friday.

Friday was day 25 for the daly equity cycle, placing them in the early part of their timing band for a daily cycle decline. There are bearish divergences developing on the oscillators and stocks printed an exhaustion candle on Friday. A swing high and break below the accelerated (black-dashed) trend line will signal the daily cycle decline. Stocks are currently in a daily uptrend. Stocks will remain in their daily uptrend unless they close back below the lower daily cycle band.

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