The Dollar 

The dollar closed above the 10 day MA on Tuesday.

The dollar is now caught in between the 10 day MA and the converging 50 day MA and 200 day MA. Rejection here and a close below the 10 day MA will send the dollar into a left translated daily cycle decline.  The dollar is currently in a daily downtrend.  The dollar a close back below the 10 day MA will indicate a continuation of its daily downtrend and signal a cycle band sell signal.

Stocks

Stocks closed below the 10 day MA on Tuesday.

Stocks continued lower this week, printing its lowest point on Friday. Friday was day 47, placing stocks late in their timing band for a DCL to form. Stocks should retrace to at least the 38% Fib level in order to complete their DCL. However, RSI 05 delivered a bullish crossover on Friday — suggesting that Friday was the DCL. Stocks are currently in a daily uptrend.  If stocks form a swing low and close back above the 10 day MA that would indicate a continuation of the daily uptrend and signal a cycle band buy signal. A break above 4721.49 will form a swing low. 

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