Dollar

The dollar broke bearishly out of consolidation the previous Friday to extend the daily cycle decline.  

Breaking bearishly out of consolidation resulted in only a 3 day bloodbath phase with the dollar forming a bullish reversal on Thursday. The dollar then formed a swing low on Friday to signal a new daily cycle. We will need to see a close above the 10 day MA to label Thursday as the DCL. The dollar is currently in a daily downtrend.  The dollar will remain in its daily downtrend unless it closes back above the upper daily cycle band.

Stocks

Stocks formed a swing high on Friday.

Friday was day 43 for the daily cycle. That places stocks deep in its timing band for a daily cycle decline. A close below the 10 day MA will signal the daily cycle decline. Stocks are currently in a daily uptrend. Stocks will remain in its daily uptrend unless they close below the lower daily cycle band. 

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