The dollar broke below the previous daily cycle low on Wednesday, forming a failed daily cycle. A bullish reversal printed the next day. Thursday was day 19, which places the dollar in its timing band for a daily cycle low. The swing low on Friday signals that a daily cycle low has been left behind. A break above the declining cycle trend line will confirm a new daily cycle.
A failed daily cycle confirms that the intermediate cycle is now in decline. Our expectation going forward for the dollar is to see left translated, failed daily cycles form until the dollar prints an intermediate low.
The failed daily cycle this week has huge implications for the dollar, gold and commodities which will be discussed in the Weekend Report.
By closing above the upper daily cycle band and breaking above the previous daily cycle high, stocks have confirmed it is in a new intermediate cycle.
Friday was day 13 for the daily equity cycle. By closing above the upper daily cycle band stocks have established a new daily uptrend.
With commodities showing signs of life it is looking more and more like the dollar’s 3 year cycle has topped. That has implications for its 15 year cycle. This weekend I am offering a special 6 week trial membership for $15 so you can follow these cycles. The goal of the Weekend Report is to develop an on-going framework of expectations using cycle analysis. It discusses Dollar, Stocks, Gold, Miners, The CRB Index, & Bonds in terms of daily, weekly and yearly cycles.
This offer will be good for the remainder of the weekend. Please click here for the special 6 week trial offer.
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.