After peaking on day 10, the dollar printed its lowest point on Tuesday, day 28, placing the dollar in its timing band for a daily cycle low. The dollar formed a daily swing low on Wednesday, closing above the 200 day MA to confirm the new daily cycle.
The dollar is in a daily downtrend and will continue in its daily downtrend until it closes above the upper daily cycle band. Our intermediate cycle count is at 14 weeks, so our expectation is to see another left translated, failed daily cycle before the intermediate cycle low prints. The daily swing high that formed of Friday aligns with that expectation. A close back below the 200 day MA will signal that the dollar is declining into its daily cycle low and continuing its intermediate cycle decline.
Stocks printed their highest point on Tues, day 30. A daily swing high formed on Thursday and stocks closed below the 10 day MA on Friday to confirm that stocks are declining into their daily cycle low.
Friday was day 33 for the daily equity cycle, placing stocks in their timing band for a daily cycle low. Once a daily swing low forms, it has good odds of marking the DCL. Stocks are in a daily uptrend and will remain so 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 firstname.lastname@example.org to receive a sample copy of the Weekend Report