The current daily cycle is on day 12 and looks to be threatening to print a failed daily cycle.
At day 12, the daily cycle should find its low in the next 4 to 14 days.
The current daily cycle has failed to print a higher daily cycle high.
If the current daily cycle fails, then the dollar will have changed character to lower highs and lower lows.
The Equity daily cycle has a few different interpretations to consider.
The equity daily cycle could have printed a shortened daily cycle at 24 days and we are now currently on day 8 of a new daily cycle.
Or
Friday was day 28 and there is a bear flag forming.
The SPY printed a noticeable 84 million on Selling on Strength.
In light of the recent volatility, this SOS could be meaningful.
A more in-depth discussion can be found on my blog.
Happy Trading
May We All Make More $$$ Faster
Likesmoney
http://likesmoneycycletrading.wordpress.com/