The dollar closed above the 10 day MA on Tuesday, then provided bullish follow through by closing above the declining trend line on Wednesday to confirm the new daily cycle.
The dollar is in a daily downtrend & will remain so unless it closes above it the upper daily cycle band.
Stocks broke bullishly out of a mini bull flag on Friday.
Stocks got a bit stretched above the 10 day MA as they emerged from the DCL. Stocks consolidated this week, allowing the 10 day MA to catch up to price. Stocks closed above the 50 day MA on Friday. This is a bullish set-up setting stocks for the next advance for this daily cycle. The Nasdaq has been leading the market and the set-up there is even more bullish.
The 10 day MA has crossed above the the 50 day MA on Friday. And the Nasdaq also closed above the upper daily cycle band on Friday. This ends the daily downtrend and begins a daily uptrend. Also, closing above the upper daily cycle band indicates that the Nasdaq has completed an intermediate cycle low.
I discuss confirmations to the intermediate cycle in the Weekend Report. And in my special report Great Expectations I will discuss this recent correction in terms of the intermediate (weekly) and the yearly cycles. And how this correction is setting the stage for Great Expectations.
I would like to make this report available here. The Great Expectations special report and a complementary 6 week trial subscription to the Likesmoney Premium Site is available for $15.
The complementary subscription will give you full access to the premium site. It includes:
1) The Weekend Report, which is posted usually Sunday mornings. It discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles – Which includes the Likesmoney Cycle Tracker.
2) The Mid-Week Update. Posted on Wednesday’s is a review of the daily and weekly charts for the above mentioned asset classes.
3)The Weekend Updates take a look of the daily & weekly charts of the Dax, GYX, NATGAS & XLE.
4) Weekly Update of the Bullish Percentile Bingo
5) Frequent (just about daily) updates of my proprietary FAS Buy/Sell Indicator
The goal of the Weekend Report is to develop an on-going framework of expectations using cycle analysis.
For the Likesmoney special report Great Expectations and 6 week trial subscription offer click here.
Current subscribers can access the report here.
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 firstname.lastname@example.org to receive a sample copy of the Weekend Report