Stocks printed a narrow range day on Friday.
Friday was day 30 for the daily equity cycle, placing stocks in their timing band for a daily cycle low. A swing low is required to mark the daily cycle low. Stocks did not break lower on Friday as they formed the narrow range day. Stocks need to do one of 2 things to form a swing low. First they could print another narrow range day that is a lower than Thursday’s low of 2437.75. That would ease the parameters for forming a daily swing low. Otherwise stocks will need to break above Thursday’s high of 2465.38 in order to form a swing low.
A peak on day 27 normally assures us of a right translated daily cycle formation. But with the weekly cycle stretched to 40 weeks we cannot rule out the possibility of stocks breaking below the previous daily cycle low of 2405.70 in order to form a failed daily cycle which would allow stocks to complete an intermediate cycle decline.
The dollar closed above the 10 day MA on 8/04/17 to signal that day 50 hosted a stretched daily cycle low.
The dollar has not yet broke above the declining trend line for final confirmation that day 50 hosted the DCL. So it is unclear if Friday was with day 7 or day 57. But since the dollar closed below the 10 day MA on Friday that indicates a continuation of the intermediate cycle decline. What is clear is that the dollar is in a daily downtrend and is declining into its yearly cycle low. It will remain in its daily downtrend until it can close above the upper daily cycle band.
And I believe that this punishing decline into the YCL is part of a bigger shift on the dollar that I discuss in the Special Report, Death of the Dollar – The Gold Train Update.
In this Special Report, Death of the Dollar – The Gold Train Update. we will take an updated look at the driver of the gold train — the dollar. We will look at were the dollar is in its yearly cycle, 3 year cycle and its 15 year super cycle. We will look at the DNA markers that signaled the previous dollar bear markets and show that those markers have been triggered again.
I would like to make this report available here through Sunday. The Gold Train Update 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– This 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 GYX, Copper, 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.
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