The dollar formed a swing low on Friday.
Thursday was day 30 for the dollar’s daily cycle. Therefore Friday’s swing low has good odds of marking the daily cycle low.
There are some bullish divergences developing with the dollar. A break of the daily cycle trend line will confirm the new daily cycle.
Stocks broke out of consolidation on Tuesday and printed a higher high on Thursday. But Friday’s swing high sets up a potential left translated daily cycle formation.
We need to keep in mind that stocks are in their timing band for a yearly cycle low. A left translated cycle formation should send stocks into its yearly cycle decline. A close below the upper daily cycle band would signal that stocks are declining into their daily cycle low. Stocks continue to close above the upper daily cycle band remaining in its daily uptrend. It will maintain its daily uptrend until it closes 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, 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 firstname.lastname@example.org to receive a sample copy of the Weekend Report