The 6/11/15 Morning Report

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The dollar printed a lower lower Wednesday. At day 18, the dollar has also entered its timing band for a daily cycle low.

98 $$$

The dollar closed below the lower cycle band on Wednesday. Unless the dollar reverses here, it is at risk to continue on to print a failed daily cycle. The dollar is only on week 4 of a new intermediate cycle. A failed daily cycle here would signal another 14 weeks of downside until the dollar entered its timing band for an intermediate cycle low. A break above 95.25 forms a swing low. Then a close above the 50 day MA will confirm a new daily cycle.

99 spx

Stocks formed a clear and convincing swing low Wednesday that broke the declining trend line. Since day 23 is too early for a daily cycle low, we have to view this as a half cycle low. If stocks break out to a new high we may be forced to rephase this as an early DCL

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3 thoughts on “The 6/11/15 Morning Report

  1. What are your thoughts on the BOW numbers? Do you consider that strong buying when compared to the setting of past DCL[s] ?

    • Kim,

      Those are pretty strong BOW #’s. About 20% higher than what we would see for the average intermediate cycle low. But the point is, stocks have yet to print an ICL …

      • Thanks ! They did look impressive to me too. But I still wanted your $0.02. You have a much better feel for this type of indicator.

        Again, love your head lines each night and keep up the good work. Look forward to seeing your email each day. +1

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