The 8/07/21 Weekend Report Preview

The Dollar

A bullish reversal formed on day 45 to place the dollar late in its timing band for a daily cycle low.  

The dollar formed a swing low on Wednesday then delivered bullish follow through on Friday. The dollar closed above both the 10 day MA and the upper daily cycle band on Friday to signal a new daily cycle.   Closing above the upper daily cycle band ends the daily downtrend and beings a daily uptrend. 

Stocks

Stocks have been consolidating above the day 17 high until Friday.

Stocks broke bullish out of consolidation on Friday. Friday was day 34, placing stocks in their timing band for a daily cycle decline. At this point, any breakout will likely be given right back as stocks seek out their daily cycle low.

However, there is the potential for stocks to begin a melt-up phase. Therefore stops could be raised to 4429.97. Stocks are currently in a daily uptrend. They 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.

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