The Dollar

The dollar formed a daily swing high on Wednesday.

The dollar closed below the 10 day MA on Thursday then formed a bearish reversal on Friday to signal the daily cycle decline.  Friday was day 27, placing the dollar in its timing band for a DCL.  The dollar should turn the 10 day MA lower as it seeks out its DCL.  Then a swing low and a close back above the 10 day MA will signal the new daily cycle.  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 formed a daily swing low on Friday.

Stocks printed their lowest point on Tuesday, day 31, placing them in their timing band for a daily cycle low. Friday’s swing low closed above the 10 day MA to signal the new daily cycle.  Stocks should turn the 10 day MA higher as they rally out of their DCL.  Stocks are currently in a daily downtrend.  They will remain in their daily downtrend unless they close above the upper daily cycle band. 

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