The 1/10/20 Weekend Report Preview

The Dollar

 
The dollar printed its lowest point on day 11. That should have been too early for a daily cycle low to form.

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.
 

Stocks

 
Stocks printed a new daily cycle high on Friday.

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

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2 thoughts on “The 1/10/20 Weekend Report Preview

  1. Maybe not ccy manipulation/iran conflict but rather that the Euro had to close its DC — now on day 28.
    So, dxy may have set a HCL on day 11 last week.

  2. Euro swing low off 50dma support.
    Yen also ripe to exhaust at 200dma.
    Gold:Silver ratio also topping at 200dma.

    All stars aligned to allow PM and euro higher and particularly Silver to outperform everything else –> en route to take 21.4 top.

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