likesmoneystudies posted: " The Dollar The dollar formed a bearish reversal on Wednesday followed by a swing high on Thursday. The dollar is in its timing band for an intermediate cycle decline. A peak on day 11 can still result in a left translated daily" Cycle Trading
The dollar formed a bearish reversal on Wednesday followed by a swing high on Thursday.
The dollar is in its timing band for an intermediate cycle decline. A peak on day 11 can still result in a left translated daily cycle formation. — which would allow the dollar to complete its intermediate cycle decline. Rejection by the 105 breakout level will signal the daily cycle decline and likely the intermediate cycle decline as well. Currently the dollar is in a daily uptrend. It will remain in its daily uptrend unless it closes below the lower daily cycle band.
Stocks
Stocks broke the previous daily cycle low on Monday then continued lower through Friday.
Friday was day 19 – which is still early to expect a DCL to form. But with the previous daily cycle being stretched at 60 days, a shortened daily cycle would help to balance out the cycle counts. A break above 3707.71 will form a daily swing low. But we will wait until a break above the breakdown level of 3943.42 to label day 19 as an early DCL. Stocks are currently in a daily downtrend. They will remain in their daily downtrend unless they can close back above the upper daily cycle band.
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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