“The Bank of Japan unexpectedly cut a benchmark interest rate below zero on Friday, stunning investors with another bold move to stimulate the economy as volatile markets and slowing global growth threaten its efforts to overcome deflation.”
(Article can be found here.)
The dollar’s daily cycle peaked on day 7, formed a swing high and delivered a trend line break to signal the daily cycle decline. The move by Japan caused the dollar to rally over 1% on Friday. This appears to have forced an early daily cycle low to form since the dollar ended up closing above the upper daily cycle band.
Stocks confirmed a new daily cycle on Friday
Stocks printed their lowest point on day 43 after a 3 week decline. That placed stocks deep in the daily cycle timing band. The swing low and accelerated declining trend line break signaled a new daily cycle. Friday’s close above the lower daily cycle band delivers final confirmation on a new daily cycle.
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