Cycle Trading

The dollar formed a huge bearish engulfing candle on the previous Friday and has since formed a mini triangle consolidation.

The dollar is currently in a daily uptrend. A bullish break out of consolidation will indicate a continuation of its daily uptrend and signal a cycle band buy signal. But a bearish break out of consolidation will signal the daily cycle decline.

Stocks

Stocks printed its lowest point on day 33, placing it its timing band for a DCL. Stocks closed above the 10 day MA on Tuesday to signal day 33 as the DCL. However – stocks formed a swing high on Friday.

Stocks should turn the 10 day MA higher as it rallies out of its DCL. Stocks formed a bullish reversal off support from the 50 ay MA on Friday. Stocks are currently in a daily downtrend. But a close above the upper daily cycle band will end its daily downtrend and begin a daily uptrend. A close above the upper daily cycle band would also signal that week 19 was the ICL.  

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