The 11/09/18 Weekend Report

November 10, 2018

The Dollar

Monday’s big drop in real time looked like the dollar had begun its daily cycle decline.

The dollar back-tested the breakout and then continued higher. While the dollar did close below the 10 day MA, it did not manage to turn it lower. Therefore we will label day 16 has a half cycle low making Friday day 18. The dollar is in a daily uptrend. It will remain in its uptrend unless it closes below the lower daily cycle band.

Stocks

Stocks formed a weekly swing low and closed above the 50 week MA.

With stocks being in their timing band for an intermediate cycle low this convinces me that week 38 hosted the ICL. Still, stocks are in a weekly downtrend. They will remain in its downtrend unless they close above the upper weekly cycle band.

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6 responses to “The 11/09/18 Weekend Report”

Koen Huysman

November 10, 2018

And so once again very negative for Gold and miners…unbelievable how bad it has turned out starting from April. Every time …now the times comes for miners and every time not yet

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1. likesmoneystudies
  
  November 10, 2018
  
  They can only hold the volley ball under water for so long …
  
  Reply
2. Alex
  
  November 10, 2018
  
  …furthermore, it looks more like Nov 7 hosted DCL on day 33 with ~43% retracement while Oct 16 the HCL.
  This is more obvious if look at the inverted pair $USDEUR –> on Nov 7 the inverted pair even closed below the DC trendline!
  Secondly, now dxy is may be trending to YCH as the 19Dec rate hike nears
  So? Aren’t we more likely to be at the beginning of a new DC in dxy to drive all PM/miners bulls and eur-bears damn crazy till 19 Dec ?
  
  Reply
Alex

November 10, 2018

Why do you say “While the dollar did close below the 10 day MA, it did not manage to turn it lower.” ?
10dma DID turn lower for one day on Nov 7.

Reply
1. likesmoneystudies
  
  November 10, 2018
  
  Yes it did, marginally
  
  Reply
Alex

November 10, 2018

In continum w/ my 2 comments abv, claiming for a fierce dollar before succumbing, look at Silver: it is in a clear left-translated IC (ICH at 14.95) and under 15 cents from setting a lower low.
Zooming out, it is about PM setting their MYCLs as dxy goes to YCH (and eur to YCL) by Dec 19 –> hence gold to undercut 1124 !

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