10/09 Morning Update

October 9, 2012

The dollar broke (marginally) through the declining trend line overnight.
It appears that this is day 2 of a new daily cycle.

It is interesting to note that so far the dollar is being held in check by the previous daily cycle trend line.

So if, in fact, this is day 2 of a new daily cycle, then this would be the 2 nd daily cycle in what could be a new intermediate cycle.

It is just we do not yet have confirmation of a new intermediate cycle.

The weekly chart shows the dollar is into the 4 th week of consolidating the 8 week sell off.
No swing low and declining trend line break has printed to confirm a new intermediate cycle.

It appears that gold has now broken below its rising trend line.
At day 9, this could signal 2 – 3 weeks of selling.

7 responses to “10/09 Morning Update”

IheartMrs.Seaver

October 9, 2012

Thanks for the timely update, LM.

Reply
nikeboy 2008

October 9, 2012

Thank you for the update LM

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angelo851

October 9, 2012

Shouldn’t your dollar daily trendline start in late July when $USD hit a high of $84.10?

Reply
greco8088

October 9, 2012

I appreciate the way that you analyze the situation without bullish or bearish bias. You just call it as you see it on the chart. Situations change and we have to be sensitive and be willing to let go of our hopes and fears. The best we can do as technicians is to respect the chart.

Thank you for sharing your first class analysis.

Reply
bryan

October 9, 2012

AAPL failed daily cycle (9/12) indicating ndx market looking for intermediate cycle low. topped out after 8 days. daily cycle trendline is near. I don’t follow many individual stocks, but AAPL is a must and usually gives clues to overall market.

I’d like to send a US Dollar chart, is there an e-mail address?
I have a slightly different approach to cycles based on the studies of JM HURST.

What is the basis for your cycle work?

bryan

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1. likesmoneystudies
  
  October 10, 2012
  
  Walter Bressert
  
  Click to access Manual.PDF
  
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vorfahrt

October 9, 2012

Thanks for the update!

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