The dollar continued to rally this week peaking on Thursday day 21.
Friday was day 22 for the daily dollar cycle. The dollar is firmly in its timing band to print a daily cycle low. The swing high that formed on Friday signals the daily cycle decline has begun. We now expect a break of the daily cycle trend line before looking for a swing low to mark the daily cycle low.
The daily equity cycle printed a higher high the prior Thursday, which was day 29. A peak past day 20 normally assures us of a right translated daily cycle which should see a higher daily cycle low print.
However stocks delivered a cyclical anomaly this past Friday by printing a failed, right translated daily cycle. Friday was day 35 for the daily equity cycle. Stocks are in their timing band to print a daily cycle low. A break above 1937.35 forms a swing low and will likely mark the daily cycle low. The failed daily cycle indicates an intermediate cycle decline.
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