Cycle Trading

Dollar

The dollar ran into resistance at the 107 level this week.

The dollar is currently stretched above the 10 day MA.

The Dollar will likely need to consolidate which would help to allow the 10 day MA time to catch up to price.  But a swing high and a close below the 10 day MA will signal the daily cycle decline. A break below 106.30 will form a swing high. The dollar is currently in a daily uptrend.  The dollar will remain in its daily uptrend unless it closes below the lower daily band.

Stocks

Stocks were consolidating below the 6000 level — until Thursday.

Stocks broke bearishly out of consolidation on Thursday.  Stocks delivered bearish follow through on Friday, closing below the 10 day MA.  The peak on day 5 indicates a left translated daily cycle formation. A break below the previous DCL of 5696.51 will form a failed daily cycle.  Stocks are currently in a daily uptrend.  But a close below the lower daily cycle band will end its daily uptrend and begin a daily downtrend.

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