The 7/21/17 Weekend Report Preview

The Dollar
$$$

The dollar continued lower this week, printing a lower low on Friday.

Friday was day 42, placing the dollar late in its timing band for a daily cycle low. A swing low accompanied by a break above the declining 10 day MA should signal a new daily cycle. A close above the declining trend line will confirm a new daily cycle. 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 swing high on Friday. A break below the daily cycle trend line would confirm the daily cycle decline.

If stocks deliver bearish follow through to Friday’s swing high that would make day 14 the cycle peak. A peak on day 14 favors a left translated cycle formation. With the intermediate cycle on week 37, a left translated cycle would likely lead to the intermediate cycle decline. Stocks would need to break below the previous daily cycle low of 2405.70 to form a failed daily cycle. However, stocks continue to close above the upper daily cycle band indicating a daily uptrend. They will remain in 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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