The dollar just may have printed a stealth daily cycle low on Wednesday.
The dollar looks to have launched into a new daily cycle when the Swiss National Bank shocked markets by scrapping its currency cap. With an expectation of a left translated daily cycle, Thursday’s ECB meeting could cause the dollar to spike and then roll over into a daily cycle decline.
The daily equity cycle peaked on day 8, formed a swing high on day 9 and has been trending lower since.
Friday was day 21 for the daily equity cycle. At 21 days, stocks are still 9 days short of their timing band for a daily cycle low. We could still see a counter-trend rally that tags the declining cycle trend line before reversing lower. We will be watching for a break of the declining trend line to signal a new daily cycle.
And with a peak on day 8, stocks are at risk for forming a failed daily cycle, which would signal an intermediate cycle decline. A break below 1972.56 forms a failed daily cycle.
Here are a few teasers for the Weekend Report.
1) Stocks crashed in 2002 and 2009. There is a signal that I see currently developing on the monthly chart that occurred prior to these two stocks market crashes. I will discuss this signal in the Weekend Report.
2) Another item that we will look at in the Weekend Report is a bullish signal developing on the monthly gold chart. Gold went on to a multi year rally four out of the previous five times this signal occurred.
The entire Weekend Report can be found at Likesmoney Subscription Services
The Weekend Report discusses Dollar, Stocks, Gold, Miners, The CRB Index, & Bonds in terms of daily, weekly and yearly cycles.
Also included in the Weekend Report is the Likesmoney CycleTracker
To subscribe: http://likesmoneysubscriptionservices.wordpress.com/
For subscribers click here.
You can email me at firstname.lastname@example.org to receive a sample copy of the Weekend Report