Cycle Trading

The Dollar

The dollar formed a daily swing low on Thursday then delivered bullish follow through on Friday.

The dollar printed its lowest point on day 31, placing it in its timing band for a DCL. The dollar should have turned the 10 day MA lower and retraced back to the 38 fib level in order to complete its daily cycle decline. However the dollar found support at the 200 day MA and is in a daily uptrend. Closing back above the 10 day MA and delivering bullish follow through indicates a continuation of its daily uptrend and signals a cycle band buy signal – so we will label day 31 as the DCL.

Stocks

Stocks closed convincingly above the 50 day MA on Tuesday.

Stocks became stretched above the 10 day MA on Wednesday and began to consolidate, which is helping to allow the 10 day MA to catch up to price. Stocks are currently in a daily uptrend.  A bullish break out of consolidation will indicate a continuation of its daily uptrend and signal a cycle band buy signal.

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