The dollar continued lower this week printing its lowest point on Thursday, day 46.
At 46 days the dollar is very deep in its timing band for a DCL so once a swing low forms it has good odds of marking the DCL. A break above 93.95 forms a swing low. A break above the declining trend line will confirm the new daily cycle. The dollar is in a daily downtrend and will continue in its downtrend until it can close above the upper daily cycle band.
Stocks printed a new high on Thursday, day 19. A new high on day 19 begins to shift the odds towards a right translated cycle formation.
The daily oscillators have turned bearish signaling an impending daily cycle decline. A break below the day 19 high of 2459.93 would form a daily swing high to signal the start of the daily cycle decline. However, Friday’s 413 million Buying on Strength point to stocks continuing higher. Stocks continue to close above the upper daily cycle band indicating a daily uptrend. Stocks 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 firstname.lastname@example.org to receive a sample copy of the Weekend Report