Stay tuned for an additional report on Sunday Night titled
” A Day Early But Not A Dollar Short”
On to the Weekend Report Review:
The dollar printed higher highs during the week. Friday was day 17 and the dollar printed another higher high.
A day 17 high has locked in a right translated nature to this daily cycle.
Entering this week the day 15 peak made it appear that a left translated cycle was forming. Stocks printed a new daily cycle high on Thursday pushing the daily cycle high out to day 29.
A swing high formed on Friday. Stocks will enter the timing band to pring a daily cycle low next week. A break of the daily cycle trend line is required to confirm the daily cycle decline. However, Friday’s Buying on Weakness print suggests there will be one more push higher.
The 200 million B.O.W. on the SPY along with the 408 million B.O.W. on the Russell indicate one more push higher. This dovetails into our cyclical expectation of seeing one more daily cycle that prints a higher high before rolling over.
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