The 7/02/15 Weekend Report

The Dollar
http://postimg.org/image/8jp4ugbcv/

The dollar printed a huge bearish engulfing candle on Monday, day 7. The dollar also lost the 50 day MA on Monday and it looked as if this daily cycle was in decline.

http://imageshack.com/a/img538/497/KgMF5M.jpg

The dollar recovered on Tuesday and continued higher through Thursday, closing just below the Monday high. A break above Monday’s high of 96.70 negates the bearish engulfing candle. It also begins to shift the likelihood that this daily cycle will form in a right translated manner.

Stocks
http://postimg.org/image/69wujdu9x/

Stocks opened the week on Monday by plunging over 2% for the day, stopping just above the 200 day MA. That was enough for stocks to break below their previous daily cycle low forming a failed daily cycle .

http://imageshack.com/a/img673/5654/1qXEca.jpg

The rest of the week resembled an oversold bounce. With Tuesday being day 15 stocks have another 3 to 4 weeks before printing a daily cycle low.

However the the large 1.3 Billion Buying on Strength that printed on Friday supports a second scenario which I discuss in the Weekend Report.

The entire Weekend Report can be found at Likesmoney Subscription Services

The Weekend Report discusses Dollar, Stocks, Gold, Miners, The CRB Index, & Bonds in terms of daily, weekly and yearly cycles.
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2 responses to “The 7/02/15 Weekend Report”

Plo

July 5, 2015

Do you feel that the buy on weakness could be disguised during this period as we see tremendous amount of spy shorts as hedge and the buy on weakness being buys to cover?

1. likesmoneystudies
  
  July 6, 2015
  
  Plo,
  
  That is an interesting theory, I do not know.
  Another theory is that that massive BOW is the Fed attempting to prop the market.
  
  I believe that once this intermediate low prints, stocks will go on to retest their recent all time highs.
  
  LM

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