The dollar printed a higher high on Friday, day 18. This assures us of a right translated daily cycle formation. The dollar also closed back above the upper daily cycle band. This signals that the dollar remains in a daily uptrend.
The break out to a new daily cycle high negates the swing low that formed on Thursday. It also means that we will draw the daily cycle trend line using the pivot that was created. The dollar has now entered its timing band for a daily cycle low. A swing high accompanied by a break of the daily cycle trend line will confirm the daily cycle decline.
Stocks printed their lowest point on day 67. They formed a swing low last Friday and then broke above the declining trend line on Tuesday to confirm the new daily cycle.
Stocks continued higher into Friday, closing above the upper daily cycle band. Stocks are in a daily uptrend and will remain in the uptrend until they close below the lower daily cycle band.
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