The 1/09/21 Weekend Report Preview

The Dollar

The dollar printed its lowest point on Wednesday, day 52.  That places it very deep in its timing band for a DCL.

The dollar formed a swing low on Thursday and then a closed above the 10 day MA to signal the new daily cycle. Currently, the dollar is in a daily downtrend. The dollar will remain in its daily downtrend until it can close back above its upper daily cycle band

Stocks

Stocks closed above the upper consolidation box on Thursday and delivered bullish follow through on Friday.

Stocks have not delivered a recognizable DCL therefor the status of the daily cycle is not clear. Notice that RSI did not even make all the way to oversold before reversing. What is clear is that stocks are in a daily uptrend that has been characterized by highs forming above the upper daily cycle band and lows forming above the lower daily cycle band — and more recently lows forming above the upper daily cycle band.

Which signals that break out of the megaphone pattern continues to advance. 

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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You can email me at likesmoney@gmail.com to receive a sample copy of the Weekend Report

Go Long

Stocks closed below the 10 day MA and back in the upper consolidation box on Monday, stopping us out.

However stocks regained the 10 day MA and managed to close back above the upper consolidation box on Tuesday. Notice that RSI did not even make all the way to oversold before reversing.

Which signals that break out of the megaphone pattern continues to advance.

Raise Stops

Stocks have been in a consolidation box for the past 4 weeks — until Monday.

Stocks are in a daily uptrend that has been characterized by highs forming above the upper daily cycle band and lows forming above the lower daily cycle band — and more recently lows forming above the upper daily cycle band. Which indicate that stocks are beginning a runaway move. So, if stocks close back in the upper consolidation box that could lead to a daily cycle decline. Therefore raise stops to the top of the recent consolidation box.

The 3/06/20 Weekend Report Preview

The Dollar

 
The dollar broke below the previous daily cycle low on Friday to form a failed daily cycle and confirming the intermediate cycle decline.

Friday was day 45, placing the dollar late in its timing band for a daily cycle low. A break above 96.55 would form a swing low to signal the new daily cycle. The dollar has been closing below the lower daly cycle band, indicating a daily downtrend. The dollar will remain in its daily downtrend until it can close back above the upper daily cycle band.

Stocks

I believe that stocks are still seeking their daily cycle low.

Stocks printed their lowest point on day 19. Stocks average 39 days per daily cycle so 19 days is too early to expect a DCL to form. Stocks were volatile this past week, closing above and below the 200 day MA and appear to be forming a consolidation box. Friday was only day 23, so we could still see 2 to 4 weeks before stocks print their daily cycle low. Stocks should break below the day 19 low of 2855.84 in order to complete their daily cycle decline. Stocks are in a daily downtrend and will remain so until they can close above the upper 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.

You can email me at likesmoney@gmail.com to receive a sample copy of the Weekend Report