The dollar printed a new high on Friday, day 20, assuring us of a right translated daily cycle formation.
At 20 days, the dollar has entered its timing band to seek a daily cycle low. A daily swing high accompanied by a break below the daily cycle trend line would signal the daily cycle decline. The dollar is in a daily uptrend. The dollar will continue in the uptrend until it closes below the lower daily cycle band.
The rally out of the June intermediate cycle low caused stocks to get a bit overheated, stretching above the 10 day MA.
Stocks have been coiling for the past 6 days, allowing for the day 10 MA to catch up. A break above this coil should send stocks into their daily cycle peak. Stocks are in a daily uptrend and will remain in the uptrend until they close below the lower daily cycle band.