The dollar regained the 50 day MA on Monday then delivered bullish follow through on Thursday and Friday.
The dollar closed above the upper daily cycle band on Friday. Closing above the upper daily cycle band ends the daily downtrend and begins a new daily uptrend.
Stocks closed below the 50 day MA on Friday.
Closing below the 50 day MA signals the daily cycle decline. The peak on day 10 sets stocks up for a left translated daily cycle formation. A break below the previous DCL of 4367.73 will from a failed daily cycle to confirm the intermediate cycle decline. Stocks are currently in a daily uptrend. But a close below the lower daily cycle band will end the daily uptrend and being a daily downtrend.
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