The dollar delivered a bearish TSI crossover on Friday which signals that the dollar has entered its daily cycle decline.
The dollar continues to close above the upper daily cycle band, indicating the daily uptrend continues. However a break below 96.51 forms a swing high. The dollar could still go higher so we need to see a break below the daily cycle trend line to confirm the daily cycle decline. A peak on day 9 can still form as a left translated cycle.
A new high on Friday, day 23, assures us of a right translated cycle formation.
Stocks have been closing above the upper daily cycle band, which indicates a daily uptrend. A bearish reversal did print on Friday. A break below 2079.34 forms a swing high, and a trend line break will signal a daily cycle decline. But with the 1.022 billion Buying on Weakness on Friday it looks as if the daily cycle trend line should provide support and allow the daily cycle to continue to advance.
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 email@example.com to receive a sample copy of the Weekend Report