The Dollar
The dollar formed a bullish reversal off support from the rising 10 day MA on. Thursday.
The dollar is approaching resistance at the 50 day MA. The dollar is still a bit stretched above the 10 day MA. If the day 17 DCL was also the ICL, then the dollar should break above the 50 day MA as it continues to rally out of its DCL. But if day 17 DCL was not the ICL, then we should see the dollar left translate and close back below the 10 day MA. The dollar is in a daily downtrend. The dollar will remain in its daily downtrend unless it closes back above the upper daily cycle band.
Stocks
Stocks printed a huge bearish candle on Thursday, closing below the 10 day MA.
Any bearish follow through would signal the daily cycle decline, however stocks rallied on Friday.
Stocks are currently in a daily uptrend. A break above 4607.07 will indicate. a continuation of the daily uptrend and signal a cycle band buy signal. But a break below 4528.58 will form a swing high and signal the daily cycle decline.
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