The dollar formed a swing high on Wednesday then formed a swing low on Friday.
Friday was day 24 which places the dollar in the early part of its timing band for a DCL. The dollar has begun to consolidate above the 98 level. A bearish break out of consolidation would signal the daily cycle decline. The dollar is currently in a daily uptrend. The dollar will continue in its daily uptrend unless it closes below the lower daily cycle band.
The status of the daily cycle is not clear.
Stocks still need to break bullishly above the 10 day MA and turn it higher to confirm day 22 as the DCL. However stocks being in a daily downtrend and contained by the declining 10 day MA makes it more likely that Friday was day 39. A break below the day 22 low of 4114.65 will extend the daily cycle decline.
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