On Thursday we discussed how stocks were rejected by the 50 day MA the previous 2 times that they tested it. And closing above the 50 day MA would be a change of character. Stocks closed above the 50 day MA on Friday
Closing above the 50 day MA on Friday will have us label day 18 as an early DCL. Stocks also closed back above the upper daily cycle band on Friday. Closing back above the upper daily cycle band ends the daily downtrend and begins a new daily uptrend. Closing back above the upper daily cycle band also signals that the ICL has been set.
In The Weekend Report I will further discuss what this means for both the daily cycle and the intermediate cycle -- and the yearly cycle. And what expectations we will have based on cycle framework. But let me give you a hint -- its bullish.
This week I am offering a special 6 week trial subscription to the Weekend Report for $15. Your 6 week trial subscription you will give you full access to the premium site which includes:
1) The Weekend Report, which is posted usually Saturday 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 is a review of the daily charts for the above mentioned asset classes.
3) The Weekend Updates take a look of the daily & weekly charts of GBTC, DAX, Copper, Natgas & XLE.
4) Weekly Update of the Bullish Percentile Bingo
5) Frequent 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. Click here for the 6 week trial subscription.
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