Look Familiar?

Stocks are up against resistance at the 4150 level.

Resistance at the 4150 level caused stocks for form a bearish reversal on. Monday.

Resistance at the 4150 level sent stocks into their daily cycle decline back in June. And at 34 days — this resistance level looks ready to do so again.

Monday was day 34, placing stocks in their timing band for a daily cycle low. If stocks deliver bearish follow through and close below the accelerated (dashed) trend line, that would signal the daily cycle decline. Stocks should then go on to break below the (blue) daily cycle trend line as they seek out their DCL.

The 8/06/22 Weekend Report Preview

The Dollar 

The dollar printed its lowest point on Tuesday, day 25, to place it in the early part of its timing band for a daily cycle low. 

The dollar formed a swing low and closed back above the 10 day MA on Wednesday to signal that day 25 was the DCL.  The dollar should go on to turn the 10 day MA higher as it rallies out of its DCL. The dollar is currently in a daily uptrend.  The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

Stocks formed a daily swing high on Friday.

Friday was day 33, that places stocks in their timing band for a DCL.

If stocks deliver bearish follow through and close below the accelerated (dashed) trend line, that would signal the daily cycle decline. Stocks should then go on to break below the (blue) daily cycle trend line as they seek out their DCL. Stocks are currently in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.

The entire Weekend Report can be found at Likesmoney Subscription Services

The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles.
Also included in the Weekend Report is the Likesmoney CycleTracker

For subscribers click here.

Gold Delivers Buy Signal

Gold rallied for 1.72% on Thursday to close above the 50 day MA.

Notice how RSI 05 is embedding in overbought.  That signals that gold has begun the advancing phase of a new intermediate cycle.  That aligns with gold being in a daily uptrend. Forming a swing low and above the upper daily cycle band indicates a continuation of the daily uptrend. and signals a cycle band buy signal.

Stocks Form Daily Swing High

Stocks ran into resistance at the 4150 level on Monday then formed a daily swing high on Tuesday.

Tuesday was day 30 for the daily equity cycle. That places stocks in their timing band for their daily cycle decline. If stocks deliver any bearish follow through and close below the 10 day MA, that would signal the daily cycle decline. Stocks are currently in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.

Stocks Running Into Resistance

Stocks printed a new daily cycle high on Monday. The new high on day 29 locks in a right translated daily cycle formation.

At 29 days, stocks are in the early part of their timing band for a DCL. Stocks are getting stretched above the 10 day MA and they are running into resistance at the 4150 level. If stocks can break through this resistance then there is little to stop them for testing the 200 day MA. But, rejection by the 4150 resistance level would signal the daily cycle decline. Stocks are currently in a daily uptrend.  Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.  

Miner Progress

On Tuesday we discussed that there is a major opportunity for the Miners. Tonight we will look at the Miner progress.

The Miners formed a swing low and closed above the 10 day MA on Wednesday. The Miners delivered bullish follow through on Thursday by closing a full candle body above the 10 day MA so we will label day 50 as the daily cycle low.

In the Weekend Report I plan to breakdown how the Miners are overdue for the intermediate and yearly cycle lows, as well. And forming a swing low could indicate not only the DCL, but the ICL and YCL as well. 

Miner Risk for Major Opportunity

The Miners were rejected by the 10 day MA on Friday. They went on to undercut the day 43 low on Monday to extend its daily cycle decline.

Monday was day 50 for the daily Miner cycle, making it severely overdue for a daily cycle low. After undercutting the low, the Miners could have easily went on to a 5 to 7 day bloodbath phase. But instead, they printed a bullish inside candle. That eases the parameters for forming a daily swing low. A break above 25.42 will form a swing low, Then a close above the declining 10 day MA will have us label day 50 as the DCL.

In the Weekend Report I plan to breakdown how the Miners are also overdue for the intermediate and yearly cycle lows, as well. There is a minor risk that the Miners will break below the day 50 low of 24.66 to extend its daily cycle decline. But if the Miners form a swing low, that could indicate not only the DCL, but the ICL and YCL as well.

False Breakout On Bonds

Bonds broke out to a new daily cycle high on Friday, but then lost the breakout out on Monday.

Monday was day 25 for the daily bond cycle, placing it in the early part of its timing band for a daily cycle low. Losing the breakout indicates that bonds are feeling the gravitational pull of the pending DCL.

If bonds delver bearish follow through and close below the 10 day MA that would indicate the daily cycle decline. Bonds are currently in a daily uptrend. If bonds form a swing low above the lower daily cycle band then they will remain in their daily uptrend and signal a cycle band buy signal.

The 7/23/22 Weekend Report Preview

The Dollar

The dollar closed below the 10 day MA on Monday then continued lower through Friday.

Friday was day 18 for the daily dollar cycle, which places the dollar in the early part of its timing band for a DCL. The dollar really needs to turn the 10 day MA lower to signal the daily cycle decline. However, the dollar is currently in a daily uptrend. If the dollar forms a swing low above the lower daily cycle band then it will remain in its daily uptrend and signal a cycle band buy signal — in which we would label day 18 as a half cycle low. A break above 107.25 will form a daily swing low.

Stocks

Stocks closed above the declining trend line on Tuesday, then continued higher through Friday.

The new high on day 23 assures us of a right translated daily cycle.  Stocks are a bit stretched above the 10 day MA and may crawl along the 50 day MA to allow the 10 day MA to catch up to price.  However, a close below the converging 10 day MA and 50 day MA would signal the daily cycle decline.  Stocks are currently in a daily uptrend.  They will remain in their daily uptrend unless they close below the lower daily cycle band. 

The entire Weekend Report can be found at Likesmoney Subscription Services

The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles.
Also included in the Weekend Report is the Likesmoney CycleTracker

For subscribers click here.

Stocks Break Bullishly Above Trend Line

Stocks have been halted by the declining trend line since late March — until this week.

Stocks broke above the declining trend line on Tuesday then delivered bullish follow through on Wednesday and Thursday. Closing above the declining intermediate trend line indicates that June 17 marked not only the daily cycle low, but the intermediate cycle low as well. That aligns with stocks closing above the upper daily cycle band on Thursday.

Closing above the upper daily cycle band ends the daily downtrend and begins a new daily uptrend. Closing above the upper daily cycle band also signals that the intermediate cycle low has been set.