Miner Reversal

The Miners have closed above the declining trend line and have begun to turn the 10 day MA higher which confirms that Wednesday was day 6 of the new daily cycle.

The Miners have also formed a weekly swing low.

The Miners printed their lowest point on week 31, placing them deep in their timing band for an ICL. We now have confirmation of a new daily cycle so the weekly swing low signals that the Miners have also begun a new intermediate cycle.

The Miners had been in consolidating for over 20 months before finally breaking down and declining into what should end up being their yearly cycle low. The long consolidation should yield a strong trending move. I think that the move into the cycle low is got everybody on the wrong side of the boat and the weekly swing low above the previous yearly cycle low is a signal that this is about to reverse.

Advertisements

Dollar at Risk for Intermediate Decline

Dollar has formed a weekly swing high.

The dollars weekly cycle peaked last week, which was week 26, placing the dollar deep in its timing band to seek out an intermediate cycle low. So the weekly swing high forming here has goods odds of marking the start of the intermediate cycle decline.

A failed daily cycle is required before an intermediate cycle cycle low can form. Monday was day 30 for the current daily dollar cycle. The peak on day 27 sets up a right translated daily cycle formation. Which indicates that the dollar will need to form one more daily cycle. which fails, in order to complete its intermediate cycle decline. Allowing 1 week for the dollar to complete its current daily cycle decline and another 5 to 7 weeks for an additional daily cycle should send the dollar lower through late September or early October.

Dollar Strength

The dollar broke convincingly higher on Thursday.

The new high on day 9 begins to shift the odds for a right translated daily cycle formation. The dollar also closed convincingly above the upper daily cycle band on Thursday. That confirms that the dollar has resumed its daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.

Meanwhile, the Miners closed convincingly lower on Thursday.

Thursday was day 18 for the daly Miner cycle, which places the Miners in their timing band for a daily cycle low. Since cycles often balance themselves out, that suggests that the Miners could be forming a daily cycle low at any day. The 190 million Buying on Weakness on Thursday would align with a daily cycle low forming soon.

But if a daily cycle low does form soon, the weekly set up suggests that the trend is still lower.

This is week 15 for the intermediate Miner cycle, which places the Miners 3 weeks shy of their timing band for an intermediate cycle low. Since that timing band can stretch for 8 plus weeks, that leaves plenty of time for one more failed daily cycle to form before the intermediate cycle low finally forms.

So a possible scenario is for the dollar to consolidate or even form a a half cycle low after Thursday’s big rally. Which could be enough to allow the miners to rally and confirm a new daily cycle. Then when the dollar resumes its upward trend that would cause the daily Miner cycle to form as a left translated cycle formation and complete its intermediate cycle decline.

The 6/23/17 Weekend Report Preview

The Dollar
$$$

The dollar printed its lowest point the preceding week on Thursday, day 54. The dollar has since formed a swing low and closed consistently above the 10 day MA signaling a new daily cycle.

The dollar still needs to close above the declining trend line to confirm that Friday was day 6 of the new daily cycle. The dollar is in a daily downtrend & will continue until it closes above the upper daily cycle band.

Stocks
stocks

Stocks peaked on Monday, day 21. Stocks formed a swing high on Tuesday then breached the daily cycle trend line on Friday setting up for a daily cycle decline.

Friday was day 25, placing stocks 5 days shy of their timing band for a daily cycle low. A clear and convincing break of the daily cycle trend line is needed to confirm the daily cycle decline. The peak on day 21 shifts the odds toward a right translated daily cycle formation. However, due to the status of the intermediate cycle I believe that the current daily cycle is still at risk of forming as a left translated, failed daily cycle. A break below the previous daily cycle low of 2352.72 forms a failed daily cycle, which confirms that the intermediate cycle is in decline.

The huge Selling on Strength number from Friday supports this possible scenario.

Stocks printed 783 million SOS on Friday. This is the type of SOS number that is associated with an intermediate cycle top.

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

The 6/16/17 Weekend Report preview

The Dollar
$$$

The dollar undercut the day 49 low, extending the daily cycle out to day 54. The dollar formed a daily swing low on Thursday indicating that day 54 hosted the DCL.

54 days places the dollar very deep in its timing band for a daily cycle low. Still, the dollar needs to break above the declining trend line to confirm the new daily cycle. The dollar has been closing below the lower daily cycle band indicating a daily downtrend. The dollar will remain in its daily downtrend until it closes above the upper daily cycle band.

Stocks
stocks

Day 15 remains as the daily cycle high keeping alive the possibility of a left translated daily cycle formation.

Stocks have been consolidating in a narrow range for the past two plus weeks. The bearish divergence developing on the momentum oscillators indicate a bearish resolution to the consolidation. A break below the day 15 low of 2415.70 will form a daily swing high and indicating a left translated cycle formation. Stocks remain in a daily uptrend and will continue in its uptrend unless it closes below the lower 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