The 4/22/16 Weekend Report Preview

The Dollar
$$$http://postimg.org/image/8jp4ugbcv/

The dollar broke above the declining trend line in a clear and convincing manner last Wednesday to signal a new daily cycle. Then the dollar drifted lower, back testing the recent daily cycle low. A bullish reversal formed on Thursday with more bullish follow through on Friday.

Friday was day 8 for the dollar’s daily cycle. A break above the day 2 high of 95.21 will begin to shift the odds towards a right translated cycle formation. The dollar is in a daily down trend characterized by peaking below the upper daily cycle band and lows forming below the lower daily cycle band. The dollar will remain in the daily down trend until it can close above the upper daily cycle band.

Stocks
stockshttp://postimg.org/image/69wujdu9x/

Stocks printed a higher high on Wednesday, day 9. A daily swing high formed on Thursday and stocks drifted lower on Friday, losing 30 points since the Wednesday peak.

21 spx daily

Since stocks have printed their intermediate cycle low in February stocks has had a series of minor pullbacks, in the range from 30 to 55 points. Stocks continue to close above the upper daily cycle band which indicates that stocks are in a daily uptrend. Stocks should remain in a daily uptrend until they close below the lower daily cycle band.

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 likesmoney@gmail.com to receive a sample copy of the Weekend Report

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