The 7/10/21 Weekend Report Preview

The Dollar

The dollar formed a swing high and closed below the 10 day MA to signal the daily cycle decline.

Friday was day 31, placing the dollar in its timing band for a DCL. 2 likely spots for a DCL to form would be at support from the 200 day MA or support from the 50 day MA. The dollar is in a daily uptrend. If the dollar forms a swing low above the lower daily cycle band then the dollar will remain in its daily uptrend and trigger a cycle band buy signal.

Stocks

Stocks formed a swing low on Friday.

Stocks were a bit stretched above the 10 day MA as of Wednesday. Thursday’s dip formed a bullish reversal off of the 10 day MA. Friday’s swing low signals that day 13 was a half cycle low. Once RSI 05 becomes embedded again in overbought, that will indicate that stocks are resuming their intermediate cycle advance. That aligns with stocks being in a daily uptrend. Since Friday’s swing low formed above the upper daily cycle band that indicates that stocks will remain in their daily uptrend and triggers a cycle band buys signal.

Stocks appear to be entering 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.

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