Smoke Them if you Got Them …

January 15, 2013

We discussed last night that we were still waiting on trend line breaks to confirm a new daily cycle.

We can see that gold, corn and the CCI index all broke their respective declining cycle trend lines to confirm new daily cycles.

So while we have confirmed new daily cycles, the weekly charts still need some work.

Gold has yet to form a weekly swing low…

Both Corn & the CCI Index have formed weekly swing lows and on the cusp of breaking the declining weekly cycle trend lines.

Once those trend lines surrender, then things will really be smoking …

11 responses to “Smoke Them if you Got Them …”

Joe

January 15, 2013

Thanks for the confirmation. How about them miners, L.M.? Did they confirm a new DC as well? – Thanks, Joe

Reply
1. likesmoneystudies
  
  January 16, 2013
  
  Oh those tricky Miners.
  
  So the dollar rallied on Tuesday as so did the Miners. Good news that the Miners can rally in the face of a rising dollar, right?
  
  Gold rallied for .76% on Tuesday and the Miners were up .72%. I would like to have seen the Miners up more considering that gold broke the declining trend line.
  
  As reported last night, gold still has work to do by forming a weekly swing low and then breaking above the weekly declining trend line.
  
  So the Miners formed a swing low and appears to have left behind a shortened 12 day cycle.
  If the Miners do not make a higher high but instead rolls over, then that will likely mean that shortened cycle will extend.
  Until the Miners break the red declining trend line they haven’t and the are still caught in a down trend.
  
  The dollar could have printed an early daily cycle low.
  Due to the nature of the decline, the dollar will need to rally a lot to achieve a trend line break.
  If the dollar breaks above the 80 level then the odds are good that Monday hosted a 16 day, daily cycle low.
  
  And the dollar rallying in a new daily cycle will likely be spell trouble for the Miners
  
  Reply
  1. vorfahrt
    
    January 16, 2013
    
    Thanks, LM!
andy

January 16, 2013

Hi LM,

Iam intressted in your premium service and i was wondering what you exactly cover? do you have model portfolio? buy and sell signals and so on. If you have already covered these questions please direct me to appropriate place.

cheers
Andy

Reply
1. likesmoneystudies
  
  January 16, 2013
  
  Andy,
  
  I do not have a model portfolio.
  
  My goal is to provide an ongoing framework of expectations to view market actions.
  
  Subscribers have access to a premium site.
  
  On this site I post The Weekend Report
  
  In The Weekend Report I discuss the dollar, stocks, gold, miners, the CCI Index and Bonds.
  In each class I look at the daily, weekly, and yearly cycles.
  
  Each Weekend Report tends to be over 1000 words with annotated charts.
  
  Here is an example of a recent weekend report.
  
  http://cycletradingpremium.wordpress.com/
  
  I also open up my notebook. I have links to my notes on Equities, Miners, and the dollar that I update occasionally.
  This is a summary of past studies that gives the big picture look. I view this as an online resource that chronicles cycle behavior.
  
  I also have developed a proprietary buy/sell indicator that I labeled the FAS Buy/Sell Indicator.
  I find this gives a fairly “unbiased” look at equities.
  This happens to sync well with FAS
  Although my intent is not to give trade signals for FAS, that is a byproduct to reading the indicator.
  I look at this as another tool in the tool box that supplements my cycle studies as following FAS provides one direction of equities moving up and down.
  
  http://likesmoneybuysell.wordpress.com/
  
  Reply
  1. Eddie Torrez
    
    January 16, 2013
    
    Killer FAS my favorite trading vehicle I’m tempted to subscribe, but after my recent bad experience with a subscription service I’m hesitant to do it again so soon. I probably will take a 3 month subscription to check out the premium site.
  2. Eddie Torrez
    
    January 16, 2013
    
    I just looked at your buy/sell link and I liked what I saw I’ll give you a 3 month tryout.
  3. jeff the flee
    
    January 16, 2013
    
    Eddie welcome. You will like this service . Do you know cycles at all? You will get saturated with them here.
vorfahrt

January 16, 2013

The miners are sure weak again today…

Reply
Short USO | Wall Street Stocks

January 16, 2013

[…] The Weekly Cycle┐ The turning point: Coyote, American ™└MS Dhoni’s power hitting was turning point, says Alastair CookFAB Behind-the-Scenes: Turning Point Presents the First Behind-the-Scenes Webisode ‘The Bosses’PuSh Festival: Turning Point Ensemble pairs music and movies five waysNFL Turning Point Detroit Lions 4-0 after defeating Dallas CowboysSmoke Them if you Got Them … […]

Reply
jeff the flee

January 16, 2013

LM Gary pointed out a U bottom on miners. Do you know anything about that? I have never heard of a U patteren.

Reply