The dollar has formed a swing high off the day 8 high. Friday’s breach of the daily cycle trend line indicates that the dollar has begun its daily cycle decline.
The peak on day 8 sets up a left translated daily cycle formation. The dollar would need to break below the previous daily cycle low of 99.25 to form a failed daily cycle and confirm the intermediate cycle is in decline. The dollar is currently in a daily uptrend. It will remain in its uptrend until it closes below the lower daily cycle band.
The break below the daily cycle trend line on Thursday signals that stocks have begun their daily cycle decline.
Friday was day 34 for the daily equity cycle, placing stocks in their timing band to seek a daily cycle low. At 34 days, stocks could trend lower for the next 5 to 10 days. Stocks are in a daily uptrend & will remain so unless they close below the lower daily cycle band.