Cycle Trading: The Weekend Report Preview - FXStreet

The Dollar

After peaking on day 34, the dollar formed a daily swing high and closed below the 10 day MA on Tuesday to signal the daily cycle decline. 

The dollar closed below the daily cycle trend line on Friday to confirm the daily cycle decline.  Friday was day 40 for the dollar daily cycle.  That places the dollar late in its timing band for a daily cycle low. A break above 98.61 would form a swing low to signal the new daily cycle.   The dollar is in its daily uptrend and will remain so unless it closes below the lower daily cycle band.

Stocks

Stocks suffered their biggest weekly drop since the 2008 financial crisis. 

The Dow Jones dropped over 3500 points and the S&P closed down over 11.49%.  The huge drop caused stocks to form a weekly swing high.  Stocks also broke below the 10 week MA and closed convincingly below the 50 week MA to confirm the intermediate cycle decline.  This was week 21 for the intermediate equity cycle placing stocks in their timing band for an intermediate cycle low.  A weekly swing low is required to form n intermediate cycle low.  And after such a big weekly drop stocks will need to form a narrow range lower weekly low in order to ease the parameters for forming a weekly swing low.    Stocks closed below the lower weekly cycle band to end their weekly uptrend and begin a weekly downtrend.  The the Weekend Report I plan to breakdown the yearly cycle and why I think the stocks will still go lower.

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March 02, 2020 at 01:07PM
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Cycle Trading: The Weekend Report Preview - FXStreet
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