Clear & Convincing — Again

0 clear

It seems that we just had a “Clear & Convincing Post”. Well it seems like that is the theme for today, as well.

Starting with the dollar…

DXY00 Commodity Futures Price Chart for U S D

The dollar has already broke below the previous daily cycle low on day 10 signaling the dollar has entered it primary cycle decline. Well the dollar used the excuse of the jobs number to break lower again today in a clear and convincing fashion. With this being week 18 of the intermediate cycle, the dollar will likely print its intermediate cycle low in conjunction with the this impending daily cycle low.

Gold reacted to the dollar in a clear and convincing manner.

gold weekly

With as 24 plus point rally today, gold has formed a weekly swing low and broke above the declining weekly cycle trend line in a clear and convincing manner to signal that this new daily cycle also marks a new intermediate cycle. This is gold’s first higher weekly low since last November.

gdx weekly

The Miners also formed a weekly swing low and broke above the declining weekly trend line today. So the Miners also now have formed a higher weekly low.

Since both gold and the Miners formed right translated weekly cycles our expectation is for both to go on an print a weekly cycle high that exceeds the previous weekly cycle.

Looks like the train is leaving the station.

train

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