The dollar closed above the 10 day MA on Wednesday to indicate that day 20 hosted the DCL. However, the dollar did not deliver any bullish follow through. Instead, the dollar formed a swing high on Thursday then delivered bearish follow through on Friday.
Backing out the chart is looks pretty clear that day 20 was not the DCL, which makes Friday day 31. That places the dollar in its timing band for a DCL. A swing low and a close above the 10 day MA will signal the new daily cycle. The dollar is in a daily downtrend. Forming a swing low below the lower daily cycle band indicates a continuation of the daily downtrend and signals a cycle band sell signal.
Stocks
The status of the daily cycle is not clear.
While stocks formed a swing low and closed above the 10 day MA on Thursday, they failed to deliver any bullish follow through on Friday. The decline into the day 49 low caused the 10 day MA to decline sharply. Stock may need to continue to consolidate to allow the 10 day MA to flatten out before it can turn higher. What is clear is that stocks are in a daily downtrend. A bearish break out of consolidation will extend the daily cycle decline and signal a cycle band sell signal. It would also introduce a another possibility. A break below the day 49 low also would have us reconsider our cycle count which would make Friday day 17 of a new, failed daily cycle.
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