Stocks dropped over 2% today, breaking below the previous daily cycle low and producing a failed daily cycle.
Yesterday’s close above the 200 MA kept alive the possibility of an early daily cycle low forming on August 12th. However, stocks dropped over 2% today. Today’s drop broke below the August 12th low, making this the lowest point since the day 9 peak. Stocks also broke below the previous daily cycle low forming a failed daily cycle and clarifies the daily cycle count at day 32.
Stocks also formed a failed intermediate cycle today, which changes everything. I look at this more closely in a Special Thursday Night Report for subscribers. Tonight we will look at daily and weekly cycles for the Dollar, Stocks, Gold, Miners, Index, & Bonds.
The entire Special Thursday Night Report can be found at Likesmoney Subscription Services
I also post a Weekend Report usually on Sunday mornings. 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.