The dollar printed a new daily cycle high on Friday.
A new high on day 27 locks in a right translated daily cycle formation. 27 days also places the dollar in its timing band for a daily cycle decline. A break below 92.17 will form a daily swing high. Then a close below the 10 day MA will signal the daily cycle decline. The dollar is in a daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.
Stocks continued to rally out of the day 26 DCL.
RSI 05 has once again become embedded in overbought. This indicates that stocks are resuming their intermediate cycle advance. That aligns with stocks being in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.
Stocks broke above the 4240 and are now delivering bullish follow through. This is turning into a bullish trending move which may be the start of a melt-up phase.
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