The dollar closed above the upper daily cycle band on Friday.
The dollar broke below its previous daily cycle low to print its lowest point on day 11. Breaking below the previous daily cycle low forms a failed daily cycle. 11 days is too early for a daily cycle low to form. But closing above the upper daily cycle band signals that the intermediate cycle low has been set -- which indicates that day 11 was the daily cycle low. Since a cycle cannot fail then go on to make a new high, a break above the 97.41 would form a high daily cycle high which would have us label day 11 as the DCL. Closing above the upper dialy cycle band signals an end to the daily downtrend and the start of a new daily uptrend.
Stocks printed a new daily cycle high on Friday.
Friday was day 31 for the daily cycle. That places stocks in their timing band for a daily cycle low. There are bearish divergences developing on the oscillators, which often precede a cycle decline. A swing high and a break below the daily cycle trend line will signal the daily cycle decline. The new high on Friday locks in a right translated daily cycle formation which aligns with stocks begin in a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.