Cycle Trading

The Dollar

This week’s rally has caused the status of the daily cycle to be uncertain.

The dollar closed back above the 50 day MA on Thursday, but ran into resistance at the declining 10 day MA on Friday. A close back above the 10 day and 50 day MA would have us label Monday as 48 LT. However the dollar is currently in a daily downtrend.  If the dollar forms a swing high below the upper daily cycle band and closes below both the 50 day MA and 10 day MA that will indicate a continuation of its daily downtrend and signal a cycle band sell signal — which would indicate that Friday was day 13 of a failed daily cycle. A break below 105.60 will form a swing high. 

Stocks

Stocks have been consolidating above the 50 day MA — until Friday.

Stocks broke bullishly out of consolidation on Friday to form a higher daily cycle high. That aligns with stocks currently being in a daily uptrend. Breaking bullishly out of consolidation indicates a continuation of the daily uptrend and signals a cycle band buy signal.

The entire Weekend Report can be found at Likesmoney Subscription Services

The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles.
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