The 11/06/21 Weekend Report Preview

The Dollar

At 23 weeks for the weekly cycle and 10 months for the yearly cycle, the dollar is late in both timing bands for an intermediate and yearly cycle decline.

The dollar printed a bearish reversal on Friday, day 6. A top on day 6 would set the dollar up for a left translated daily cycle formation. Then any bearish follow through could trigger the intermediate and yearly cycle decline. The dollar is currently, in a daily uptrend.  But a close below the lower daily cycle band will end the daily uptrend and begin  a daily downtrend.

Stocks

Stocks continued higher on this week.

The new high on day 24 locks in a right translated daily cycle formation. That aligns with stocks being in a daily uptrend. Stocks will remain in their daily uptrend unless they close below the lower daily cycle band. 

The decline into the ICL stretched the ‘elastic band’ lower. Stocks are delivering bullish follow through on the breakout of the 4545.85 level. This could trigger a melt-up phase. I suspect that a daily cycle decline will back test the breakout level before the we see the 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

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2 thoughts on “The 11/06/21 Weekend Report Preview

  1. Am I correct in assuming that the “Daily Cycle Band” is the dark shaded area that roughly tracks the daily candles ? Thank you in anticipation.

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