The 9/09/16 Weekend Report

The Dollar
$$$

The dollar began the week being decisively rejected by the 50 day MA. However, the swing low that formed on Friday sets up a possible early daily cycle low.

Friday was likely day 15 for the dollar’s daily cycle. But a break of the declining trend line would signal that the dollar has begun a new daily cycle. However, if the dollar continues lower and breaks below the previous cycle low of 94.05 it will form a failed daily cycle and confirm the continuation to its intermediate cycle decline.

Stocks
stocks

Stocks have not delivered a clearly identifiable daily cycle decline since peaking on day 34, until Friday.

Day 47 did place stocks late in their timing band for a daily cycle low. Then stocks did not break above the day 34 high of 2193.81 to confirm a new daily cycle. So Friday’s break lower signals a continuation of the daily cycle decline. And 52 days places stocks very late in its timing band for a daily cycle low.

The late daily cycle count indicates that this daily cycle decline will be short-lived. And as big of the drop was on Friday I will remind everyone that stocks delivered an even bigger drop back in June. The break for consolidation should yield a trending move. The current daily cycle decline will allow for everyone to “get on the wrong side of the boat”. That will set up a false break down out of the consolidation. Since the current daily cycle has formed as a right translated cycle, the new daily cycle should break out to new highs.

The entire Weekend Report can be found at Likesmoney Subscription Services

The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & 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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