Miner Progress

The Miners closed above the 10 day MA on Thursday.

The Miners printed their lowest point on day 42, placing them deep in their timing band for a DCL. The Miners formed a swing low on Monday then delivered bullish follow through by closing above the 10 day MA on Thursday to signal that day 42 was the daily cycle low. The Miners will need to break above the declining trend line and the 200 day MA in order for a trending move to develop. In the Weekend Report I will discuss what this means in terms of the longer, intermediate cycle.

Gold Bullish Reversal

Gold printed a bullish reversal on Monday.

Monday was day 33 for the daily gold cycle, placing it in its timing band for a DCL. Monday’s bullish reversal eases the parameters for forming a daily swing low. A break above 1817.10 will form a swing low. Then a close above the converging 10 day MA and the 200 day MA will signal the new daily cycle. In the Weekend Report I will breakdown what a new daily cycle means in terms of the longer term, intermediate cycle.

Stocks Still Seeking A Bottom — Update

Stocks broke below the day 46 low on Monday then continued lower on Tuesday, Wednesday and Thursday to extend their daily cycle decline.  

Thursday was day 54, placing stocks very deep in their timing band for a DCL. At this point a swing low stands a good chance of marking the DCL. Recovery of the breakdown level of 4114.65 will have us label day 54 as the DCL.  Stocks are currently in a daily downtrend.  They will remain in their daily downtrend unless they close back soccer the upper daily cycle band.  

Premarket update:

Stocks formed a swing low in the premarket. Now we need to see stocks hold it into the close.

Stocks Complete Swing Low

Stocks competed a daily swing low on Tuesday.

Stocks broke below the previous daily cycle low on Monday to form a failed daily cycle. Monday was day 46, placing stocks very deep in their timing band for a DCL.  Stocks managed to recover the breakdown level on Monday, forming a bullish reversal. On Tuesday stocks completed a swing low so we will label day 46 as the DCL, using Monday’s low as the stop.  Stocks should go on to recover the 10 day MA as they really out of the DCL.

The Miners also completed a daily swing low on Tuesday.

The Miners broke below the previous DCL last week to form a failed daily cycle. The Miners printed their lowest point on Monday, day 34, placing them deep in their timing band for a DCL. The Miners formed a swing low and pierced the declining trend line on Tuesday so we will label day 34 as the DCL. In the Mid Week Update I plan to discuss what this means in terms of the weekly Miner cycle.

Bullish Reversal

Stocks printed a bullish reversal on Monday.

Stocks began Monday lower, eventually breaking below the previous daily cycle low to form a failed daily cycle. Monday was day 46, placing stocks very deep in their timing band for a DCL. Recovering the breakdown level is a good sign that stocks printed their DCL. A break above 4159.81 will form a swing low and have us label day 46 as the DCL. Stops can then be set to Monday’s low. Stocks should then go on to recover the 10 day MA as they really out of the DCL.

In the Weekend Report I plan to discuss what forming a failed daily cycle means in terms of the yearly cycle. Hint –> Bullish

The 4/30/22 Weekend Report Preview

Dollar

The dollar formed a swing swing high on Friday.

Friday was day 21 for the daily dollar cycle, placing the dollar in the early part of its timing band for a DCL. The dollar has become quite stretched above the 10 day MA. If the dollar delivers any bearish follow through to Friday’s swing high that could send the dollar to seek out its DCL.  The dollar is in a daily uptrend.  The dollar will remain in its daily uptrend unless it closes back below the lower daily cycle band. 

Stocks

Stocks formed a swing low on Thursday then negated that swing low on Friday.

Stocks printed their lowest point on Friday, day 45, placing them deep in their timing band for a DCL. So we are still waiting on a swing low and close above the 10 day MA to signal a the DCL.  Stocks are in a daily downtrend and will remain so unless they close back 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.

Daily Cycle Low

Stocks formed a swing low on Thursday.

Stocks printed their lowest point on Wednesday,d ay 43, placing them late in their timing band for a DCL. Thursday’s swing low has good odds of marking the DCL. Stocks should close above the 10 day MA and then go on to break above the declining trend line as they rally out of their DCL.

I do have a concern over how RSI 05 embedded in oversold during this daily cycle decline. I plan to discuss this further in the Weekend Report.

Gold Update

Gold broke below the previous DCL on Monday to form a failed daily cycle and signal that gold is also seeking out its ICL.  

Gold delivered bearish follow through on Wednesday, closing below the 1900 support level. However in the Thursday morning premarket — gold is in the process of forming a bullish reversal. If gold can form a bullish reversal on Thursday then a swing low and recover the 1900 level — that would signal the daily cycle low and possibly the intermediate cycle low as well. Which I plan to discuss further this weekend in the Weekend Report.

Stocks Still Seeking Their DCL

Stocks printed a lower low on Thursday.

Wednesday was day 43 for the daily equity cycle, placing stocks late in their timing band for a DCL. Stocks are close to breaking below the previous DCL. If February did mark the yearly cycle low then stocks should not break below the February low during the first day cycle of the year. So, at this point a swing low should signal the new daily cycle.

Miner Support

The Miners are finding support at the 35 level this morning.

The above is a 2 hour chart showing the Miners in the premarket and they appear to be finding some support at the 35 level.

The bigger picture shows us that at 29 days, the Miners are in their timing band for a DCL.   A swing low and a break above the declining trend line would signal the new daily cycle. The Miners are currently in a daily downtrend. They will remain in their daily downtrend until they close back above the upper daily cycle band.