However with the currency manipulation and the conflict in the Mideast it certainly appears as if an early DCL formed. The dollar formed a swing low and closed above the 10 day MA. It is running into resistance at the converging 50 day MA and the 200 day MA. A close above these two moving averages would confirm that day 11 was an early DCL. The dollar is in a daily downtrend. It will remain in its daily downtrend unless it closes back above the upper daily cycle band.
Friday was day 26 for the daily cycle. The new high on Friday locks in a right translated daily cycle formation which aligns with stocks begin in a daily uptrend. There are bearish divergences developing on the oscillators, which often precede a cycle decline. Stocks did printed a bearish candle on Friday, which eases the parameters for forming a daily swing high. A break below 3260.86 will form a daily swing high. Then a break below the daily cycle trend line will signal the daily cycle decline. Stocks are in a daily uptrend. Stocks will remain in their daily uptrend unless 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