This week the dollar managed to regain the 50 day MA.
A new high on day 12 shifts the odds towards a right translated cycle formation. The dollar closed convincingly above the upper daily cycle band to signal that the intermediate cycle low has been set. Also by closing above the upper daily cycle band signals that the dollar has begun a new daily uptrend.
The daily equity cycle peaked on day 47, formed a daily swing high and then began its daily cycle decline.
Stocks printed their lowest point on Thursday, day 67. This places stocks very deep in its timing band for a daily cycle low. The swing low on Friday has good odds of forming the daily cycle low. We still need to see a break of the declining trend line before we can label day 67 as the daily cycle low.
And if Thursday did host the daily cycle low, then stocks would have remained above the lower daily cycle band. Which means that stocks have remained in their daily uptrend. Stocks will continue in their daily uptrend until they close below the lower daily cycle band.
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