The 11/26/15 Morning Report

000000

Gold’s daily cycle peaked on day 9. It printed its lowest point on 11/18, which was day 33. Day 33 places gold is deep in its timing band for a daily cycle low.

gld

Gold has formed a swing low but has yet to confirm a new daily cycle. The Miners have confirmed a new daily cycle which we discussed here. Gold may be waiting on the dollar to form a swing high before confirming the new daily cycle.

$$$

The dollar’s daily cycle peaked on 11/18, which was day 24. It then formed a swing high on day 25. The dollar did break the daily cycle trend line on day 25, which was discussed here. That trend line break signaled the daily cycle decline.

It looks as if the dollar declined only one day and then began a new daily cycle. The dollar is on week 13 for its intermediate cycle. The timing band for the new daily cycle should coincide with the dollar entering its timing band for an intermediate cycle low. Therefore we need to be suspicious that this new daily cycle will form as a left translated failed daily cycle. A break below 99.36 will form a daily swing high, which should set this in motion.

0

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s