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Cycle Trading

The 12/18 Morning Update

December 18, 2012

The CCI had a clear and convincing break of the declining cycle trend line declaring a new daily cycle.

Monday was day 2 for the new daily cycle.
We see the CCI is right up against resistance at the 570 level

It looks like it is waiting on a spark to ignite a rally.

Perhaps the dollar will provide that spark…

As we discussed in last night’s report, the dollar is in a failed daily cycle.
The 79.50 level has been providing some support for the dollar.

Once that support surrenders I think that we will see commodities soar…

6 responses to “The 12/18 Morning Update”

greco8088

December 18, 2012

As dollar cycle is failing, it looks like gold cycle is failing as well! Amazing. Anyone with explanation as to what is going on? Is there any possibility that weekly cycle bottom has not occurred in early Nov but is happening now?? That could mean some painful drop soon.

Reply
trondtveten

December 18, 2012

LM, can it be an extended IC, or has it already failed? (No definite answer possible of course, but what are the odds. In your historic charts, have an extended IC like this happened before in gold?)
Btw this resembles a bit ~1st of July 2010. At that time the dollar crashed simultaneously with gold and silver before their IC were set.

Reply
1. Eddie Torrez
  
  December 18, 2012
  
  Could this be a swing low forming on a longer than normal daily cycle for gold?
  
  Reply
  1. likesmoneystudies
    
    December 19, 2012
    
    Right now gold would have to clear 1703.1 to form a swing.
    I think we will see a lower low that eases the parameter to form a swing.
2. likesmoneystudies
  
  December 19, 2012
  
  I do not know, the current gold cycle seems much more complicated
  
  Reply
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