Cycle Trading

The Dollar

The dollar formed a swing low on Wednesday the printed a higher high on Thursday so we will label day 39 as the DCL.

The dollar was a a bit stretched above the 10 day MA on Thursday and formed a swing high on Friday. The dollar is currently in a daily uptrend.  If the dollar forms a swing low above the upper daily cycle band that will indicate a continuation of its daily uptrend and signal a cycle band buy signal.  A break above 106.62 will form a daily swing low.  

Stocks

Stocks closed above the 200 day MA on Tuesday, but then formed a swing high on Wednesday.

Wednesday’s swing high negated Tuesday’s swing low.  Stocks went on to deliver bearish follow through into Friday.  Friday was day 18 of a failed daily cycle. Stocks could trend lower for another 2 – 3 weeks to be in their timing band for a DCL. Stocks are currently in a daily downtrend.  Stocks will remain in its daily downtrend unless they close back above the upper daily cycle band.

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