The 7/17/14 Weekend Report Preview

The Dollar
$$$

The dollar printed its lowest point on day 28. It has formed a swing low but has been contained by the 10 day MA so it is not clear if day 28 hosted a DCL.

A break above the declining trend line is needed to confirm day 28 hosted the DCL. But a break below the day 28 low of 95.22 will extend the daily cycle decline which would make Friday day 36. That aligns with 6 of the previous 8 daily cycles exceeding 30 days. The dollar is in a daily downtrend and will remain so until it can close above the upper daily cycle band.

Stocks
stocks

Stocks formed a daily swing low and closed above the declining trend line on Wednesday. Then provided bullish follow through on Thursday to confirm that day 29 hosted an early DCL.

Stocks continued higher, closing at an all time high on Friday. While the status of the intermediate cycle has us expecting a left translated daily cycle formation, the fact remains that stocks are in a daily uptrend. The will continue it their 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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