Failed Daily Cycle

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The dollar continued lower today, break below the previous daily cycle low to form another failed daily cycle.

$$$

Thursday was day 25 for the dollar’s daily cycle. The dollar is beginning to get deep into its timing band to print a daily cycle low. A swing low and a break of the declining trend line will signal a new daily cycle. A break above 95.96 will form a daily swing low.

Meanwhile, stocks continued higher on Thursday.

spx

Thursday was day 24 for the daily equity cycle. Today’s new high locks in a right translated cycle formation and further verifies that 2/11 hosted an intermediate cycle low. Stocks continue to close above the upper daily cycle band, indicating that stocks remain in a daily uptrend.

Stocks are 6 days shy from entering its timing band to seek out a daily cycle low. A swing high and a break of the daily cycle trend line will signal that stocks have begun their daily cycle decline.

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