Cycle Trading

Dollar

Wednesday’s swing low closed back above both the 10 day MA and the 200 day MA. With the dollar being in a daily uptrend, Wednesday’s price action signaled a new daily cycle.   

The dollar gave back almost its entire gain on Thursday,  If the dollar delivered bearish follow through and closed below the 10 day MA that would have signaled that Thursday was day 30 and the dollar still needed to complete its daily cycle decline.  However the dollar found support at the 10 day MA on Friday and rallied so we will label day 28 as the DCL.  

Stocks

Stocks found support at the rising 50 day MA and formed a swing low on Tuesday.  Stocks closed above the 10 day MA on Wednesday then delivered bullish follow through Thursday and Friday – breaking out to new all-time highs — again. 

Stocks became quite stretched above the 10 day MA on Friday.  Stocks will likely need to consolidate to allow the 10 day MA time to catch up to price.   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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