The Dollar
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After peaking on day 13, the dollar printed its lowest point on the previous Friday, day 25. Wednesday’s close above the lower daily cycle band confirms that the dollar has left behind a 25 day, daily cycle low.
Thursday was day 4 for the new daily cycle. The dollar has been in a daily down trend that is characterized by closing below the lower daily cycle band. The dollar will remain in a daily down trend until it closes above the upper daily cycle band.
Stocks
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A peak on day 27 assures us of a right translated cycle formation. The swing high and break of the daily cycle trend line indicate the daily cycle decline.
Thursday was day 29 for the daily equity cycle. Which places stocks just 1 day shy of entering its timing band for a daily cycle low. Thursday’s bullish reversal has eased the parameters for forming a swing low. A break above 2036.04 will form a swing low. And if Thursday is confirmed as the daily cycle low, that will indicate a reestablishment of a monthly trend that we will discuss as we look at the yearly cycle. Which we discuss in the Weekend Report.
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The Weekend Report discusses Dollar, Stocks, Gold, Miners, The CRB Index, & Bonds in terms of daily, weekly and yearly cycles.
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