Steel is beginning to look interesting so I thought that we should take a look.
Steel formed a daily swing low on Thursday.
Steel printed its lowest point on Wednesday following the day 5 peak. Wednesday was day 28, placing steel in its timing band to print a daily cycle low. The swing low formed above the support of the 200 day MA. So there are good odds that the day 28 hosted the daily cycle low. A break above the declining accelerated (red dashed) trend line will provide our first confirmation of a new daily cycle. Then a break above the declining (blue) trend line will provide final confirmation that day 28 hosted the DCL.
In my Special Report: Steel Bottom I take a closer look at steel. In my report I break down steel’s daily, weekly and yearly cycles and discuss where steel is in these various cycles. I am offering the Special Report: Steel Bottom along with a 6 week trial subscription to the Weekend Report for $15 which will give you full access to the premium site. It includes:
1) The Weekend Report, which is posted usually Saturday mornings. It discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles – and it includes the Likesmoney Cycle Tracker.
2)The Mid-Week Update. Posted on Wednesday’s– This is a review of the daily & weekly charts for the above mentioned asset classes.
3) The Weekend Updates look of the daily & weekly charts of GYX, Copper, NATGAS & XLE
4) Weekly Update of the Bullish Percentile Bingo
5) Frequent (just about daily) updates of my proprietary FAS Buy/Sell Indicator
The goal of the Weekend Report is to develop an on-going framework of expectations using cycle analysis.
So if you are interested in the Special Report: Steel Bottom and the 6 week trial subscription for $15 please click here.
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