The dollar formed a daily swing high on Thursday and broke the daily cycle trend line to signal the daily cycle decline.
The dollar then formed a swing low on Friday, day 25. It is possible that the dollar has just left behind a 25 day, daily cycle low. At this point a break above Wednesday’s high of 99.97 will confirm a new daily cycle.
The daily equity cycle peaked on day 25, formed a swing high on day 27 and declined until it printed its lowest point on Monday day 34.
A swing low formed on Tuesday. Stocks then broke above the declining cycle trend line on Wednesday to confirm the new daily cycle. Stocks also closed above the upper daily cycle band on Wednesday re-establishing the daily uptrend. Stocks then continued higher into Friday.
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