The dollar peaked on day 6. It formed a swing high on Monday and continued lower this past week, losing the 50 day MA on Thursday.
A day 6 peak accompanied by the dollar losing the 50 day MA indicates a left translated cycle formation. With the dollar needing another 7 days to enter its timing band for a daily cycle low, it seems that the dollar is likely to print a second, consecutive failed daily cycle. Which is in alignment with what we see developing on the weekly chart. Which I cover in the Weekend Report.
Stocks peaked on day 11 and then closed below the lower daily cycle band on day 19, forming a half cycle low. Stocks bounced out of the day 19 low, but failed to close above the upper daily cycle band before breaking lower. Stocks once again tried to rally this week but appears to have stalled at the convergence of the 200 MA, 50 MA and the declining cycle trend line.
Day 19 was too early for a daily cycle low. So I believe that stocks still need to complete their decline into a daily cycle low by breaking below the day 19 low of 1993.26
However if stocks can manage to break above the declining trend line and close above the upper daily cycle band, that would signal that day 19 was a daily cycle low.
And if stocks do close above the upper daily cycle band then they will continue to follow the 2011 analog, which is something that I cover in the Weekend Report.
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I am busy putting the finishing touches to a Special Report: Miner Details. In this report I will do a complete cyclical analysis of the Miners since emerging from the 2008 bottom.