The 12/01/15 Morning Report

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The dollar’s daily cycle broke to a new daily high on 12/03. Then it proceeded to drop. It closed below the lower daily cycle band signaling not only the start of its daily cycle decline, but the intermediate cycle decline as well.

1 $$$ daily

Since 12/03 the dollar has been forming a bear flag. The dollar still needs to break below 97.59 to form a swing high. With Tuesday being day 12, that leaves another 6 days before the dollar enters its timing band to print a daily cycle low.

2 gld

Gold printed a bullish reversal on 12/03, which was day 42 for the daily gold cycle. Gold formed a clear and convincing swing low then next day that closed above the lower daily cycle band to confirm a new daily cycle. While gold stalled out the last two days it has remained above the lower daily cycle band.

It seems that both the dollar and gold have some …

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