The 5/18/19 Weekend Report Preview

The Dollar

The dollar printed its lowest point on day 37, following the day 26 peak. That placed the dollar deep in its timing band for a daily cycle low.

The dollar formed a swing low on Tuesday and broke above the declining trend line on Thursday to confirm the new daily cycle. The dollar continues to close above the upper daily cycle band, indicating that it is in a daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Stocks

Personally I think that stocks would have printed their daily cycle low on the previous Friday, 5/10/19. However, the escalating trade war with China caused stocks to break lower on Monday.

As we will see on the weekly chart in the Weekend Report, stocks are in its timing band for an intermediate cycle low. Stocks have formed a weekly swing high and closed below the 10 week MA which signals that the intermediate cycle decline has begun.

Stocks losing the 50 MA on Friday is a warning signal that the gravitational pull of the pending intermediate cycle low will cause stocks to form a failed daily cycle. A break below the previous daily cycle low of 2722.27 will form a failed daly cycle. Since stocks closed below the lower daily cycle band on Monday that ended the daily uptrend and began a daily downtrend.

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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