Cycle Trading: Swing High & Bearish Divergence

LikesMoney Independent Analyst

Stocks formed a daily swing high on Thursday.

Thursday was day 14 for the daily equity cycle. A swing high on day 14 sets up a potential left translated daily cycle formation. That aligns with our longer term view that stocks are in their timing band for an intermediate cycle decline which we discussed here. Stocks are in their 4th daily cycle & which is another reason to expectant intermediate cycle decline. There is a bearish divergence developing on the TSI, which is something that we see a cycle tops. A close below the 10 day MA would signal the daily cycle decline.

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LikesMoney

Independent Analyst

Assets (such as stocks, gold, and the dollar) have identifiable cycles.

EUR/USD hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

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Gold climbs further, focus is back to 45,000

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Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

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XRP rally extends as modest ETF inflows support recovery

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