The 7/29/16 Weekend Report

The Dollar
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After forming a swing high on Tuesday, the dollar began its daily cycle decline. The dollar delivered a huge bearish surprise on Friday. Losing both the 200 MA and the 50 day MA.

The dollar had been in a daily uptrend. But the huge drop on Friday caused the dollar to close below the lower daily cycle band. That signals an end to the daily uptrend and the beginning of the dollar’s intermediate cycle decline.

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

Stocks have been consolidating the initial run-up out of the 6/27 intermediate cycle low.

Friday was day 23 for the daily equity cycle. A new high on day 23, or after, increases the likelihood of a right translated daily cycle formation. Instead of dropping into a half cycle low, stocks have been consolidating in a narrow range. These consolidations are typically continuation patterns. So it is likely to see 1 more leg higher before this daily cycle tops.

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.

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.

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