The dollar broke out to a new daily cycle high on Tuesday.
Tuesday was day 17 for the daily dollar cycle. A new high on day 17 assures us of a right translated daily cycle formation which reinforces my thinking that May hosted the yearly cycle low. The dollar has also started to close above the upper daily cycle band. This signals a new daily uptrend.
Meanwhile stocks look like they need a breather.
Stocks printed an intermediate cycle low in June. They have since begun to close above the upper daily cycle band, indicating a new daily uptrend. However, the RSI is overbought and we can see that the True Strength Indicator has reached a level that has seen other daily cycles correct. At day 15, a swing high could see stocks move down into a half cycle low. A break below 2161.74 forms a daily swing high. But as long as they remain aloe the lower daily cycle band they will remain in a daily uptrend.