The 5/05/17 Weekend Report Preview

The Dollar
$$$

The dollar printed its lowest point on day 20, following the day 10 peak. And has since drifted sideways being contained by the 200 day MA.

The dollar breached the declining trend line but never convincingly closed above the 10 day MA. Then the dollar broke lower. The lower low on Friday extends the daily cycle out to day 28, placing the dollar in its timing band to print a daily cycle low. The dollar needs to form a swing low and close above the 10 day MA to signal a new daily cycle. The dollar is in a daily downtrend. It will continue in its downtrend until it closes above the upper daily cycle band.

Stocks
stocks

Stocks formed a swing low on Thursday and then broke out to a new high on Friday.

The previous daily cycle was stretched at 58 days so a shortened 26 day cycle helps to balance out the cycle counts. And a shortened 26 day DCL would align with stocks entering a parabolic advance, which was something that I cover last week in the Weekend Report.

However, I do not think that stocks dropped enough for a daily cycle low. So most likely Wednesday was the half cycle low which would make Friday day 28 for the daily equity cycle. But the swing low allows stops to be moved up. Stocks are in a daily uptrend. They will continue in its 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, 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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