Breather …

November 20, 2012

After the big run up on Monday, stocks seemed to need a take a breather today.

Tuesday was day 2 for the daily equity cycle.
While we wait on a break of the declining trend line to confirm this as a new daily cycle, stocks did make some progress today leaving behind a bullish tail to today’s candle.

The CCI seemed to also be taking a breather today, yet progress was still made here as well.

The CCI closed above the declining intermediate cycle trend line confirming a new intermediate cycle.

Work still needs to be done here, including breaking above resistance at the 570 level.

Silver printed a small gain today.

The advanced was capped by the 50 day MA.

A little more weakness by the dollar should kick silver back into gear.

The dollar is still seeking out its daily cycle low.
The dollar has yet to breach the daily cycle trend line.
With the daily cycle getting to the outer limits of the timing band for a low, we should see the dollar break below the daily cycle trend line in the next few days.

That break should send gold and the precious metals to their daily cycle peaks.

8 responses to “Breather …”

likesmoneystudies

November 20, 2012

Vorhart,

I did not get a chance to answer this today, so I brought it over to today’s post.
You asked
“where you get the great info on Buying on Weakness and the 90% up volume day get from?”

The Buying on Weakness link is here. Notice the large BOW for apple …
http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html?mod=topnav_2_3000

And here is the line to the Markets Diary (you will need to scroll down)
http://online.wsj.com/mdc/public/page/marketsdata.html#mod=mdc_topnav_2_3022

Reply
1. vorfahrt
  
  November 21, 2012
  
  Thanks LM! I’ll bookmark the WSJ links.
  
  Reply
ALEX

November 20, 2012

Thanks L.M.

— I Personally wouldnt mind seeing the gaps on GDX, GDXJ , SIl, etc fill tomorrow on a light volume day of holiday trade, then maybe we could get some lift off . If tomorrow is like today in Metals / miners…I’m going to join that Cat on the door! : ] thanks again

Reply
sdssd

November 21, 2012

Dollar rocket takes off

Reply
1. likesmoneystudies
  
  November 21, 2012
  
  sdssd,
  
  I really think that Friday marked the daily cycle top, and possibly an intermediate cycle top for the dollar.
  News out of Europe appears to have cause the dollar to pop higher.
  
  If the dollar had not already began its daily cycle decline, then this news probably would have caused the dollar to print a higher high.
  At day 25, the dollar is getting to its outer limits of the timing band to print a daily cycle low.
  With each passing day, the odds of setting a higher high drop.
  
  More than likely, this news will simply cause the dollar to set the declining cycle trend line.
  
  The dollar should break lower out of the triangle formation to complete its decline into the now due daily cycle low.
  
  Reply
likesbullmarkets

November 21, 2012

LM this might be asking a bit much, but would you look at this chart? posted on smt, does this price target and time frame look reasonable?

Reply
1. likesmoneystudies
  
  November 21, 2012
  
  Likesbullmarkets,
  
  The comment that I would like to say is the chart is very compelling and is an excellent reminder why I likes bull markets 🙂
  
  Reply
  1. likesbullmarkets
    
    November 21, 2012
    
    ok thanks, just was wondering if it was streached , to make it say what someone thought it should say. I know its a bull market, but i could not validate any of it. Looks good, i like it , its cool . I had heard 2500 this move although i dont know where. Tried to ask gary where this c wave was going and he said 4000. no that is more like 2017. Anyway it does not matter so much. We will watch it in real time and we know it will be grrreat.