Cycle Trading

The Dollar

The dollar delivered a bullish surprise on Friday.

The unexpected strong jobs number, 350000 new jobs added, caused the dollar to find support at the 50 day MA and rocket higher.  The new high on day 25 locks in a right translated daily cycle formation.  The dollar is currently in a daily uptrend.  Breaking bullishly out of consolidation indicates a continuation of its daily uptrend and signals a cycle band buy signal. 

Stocks

Stocks formed a daily swing low on Friday.

Friday was day 19.  The new high on day 19 shifts the odds towards a right translated daily cycle formation.  This aligns with stocks being in a daily uptrend.  Forming a swing low above the upper daily cycle band indicates a continuation of its daily uptrend and signals a cycle band buy signal. We should note that stocks are now getting stretched above the 10 day MA and approaching the 5000 level, which could trigger a take profit event.

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