The dollar easily regained the 10 day MA on Monday and also set the daily cycle trend line.
Friday was day 20 for the dollar’s daily cycle. The dollar continues to print new highs, which assures us of a right translated cycle formation. The dollar has entered its timing band to seek out a daily cycle low. A swing high and close below the upper cycle band will signal the daily cycle decline.
Stocks formed a daily swing low on Monday and then closed above the 50 day MA on Tuesday. Stocks continued to rally into Friday, closing above the upper daily cycle band.
Friday was day 8 for the daily equity cycle. Stocks are in a new intermediate cycle, which is discussed in the Weekend Report. A new intermediate cycle typically begins by forming a right translated daily cycle. Which means that we can expect to see stocks rally anywhere from 4 to 6 weeks before declining into a daily cycle decline. However this is not to say this new daily cycle will not be volatile. We will look at this closer in the Weekend Report.
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
For subscribers click here.
You can email me at firstname.lastname@example.org to receive a sample copy of the Weekend Report