The recent volatility has obscured our daily cycle count.
On Wednesday the dollar was rejected by the 200 day MA and closed below the 50 day MA that clearly signaled the daily cycle decline. Even though the dollar formed a swing low and closed higher on Friday, it did not regain the 10 day MA. At this point a close above the 50 day MA would signal that Thursday was day 24 and the daily cycle low.
Stocks finally formed a swing low on Wednesday and closed above the upper daily cycle band on Thursday to confirm that day 53 hosted the daily cycle low
Stocks did form a daily swing high on Friday to back-filled the gap that was left behind on Thursday. Stocks are emerging from a right translated daily cycle low. Stocks should go on to print a higher daily cycle high.