Despite the dollar’s convincing rally on Wednesday, the dollar remains contained by the declining 10 day MA.
If the dollar delivered bullish follow through to Wednesday’s swing low then we may have needed to label Tuesday as an extended daily cycle low. However the dollar was contained by the declining 10 day MA on Thursday and formed a swing high on Friday. The dollar is in a daily downtrend. Forming a swing high on Friday indicates that the dollar remains in its daily downtrend and triggers a cycle band sell signal.
Stocks formed a swing low on Friday.
Stocks printed their lowest point on Wednesday, day 48. That places them in their timing band for a daily cycle low. Friday’s swing low closed back above the 10 day MA to signal the new daily cycle. Stocks are in a daily uptrend. Forming the swing low above the lower daily cycle band indicates that stocks remain in their daily uptrend and triggers a cycle band buy signal.
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 email@example.com to receive a sample copy of the Weekend Report