Cycle Trading

The dollar ran into resistance at the declining 50 day MA on Monday.  The dollar retraced and found support at the rising 10 day MA. The dollar went on to form a swing low on Friday.

The dollar is being squeezed by the declining 50 day MA and the rising 10 day MA. A break out of consolidation should result in a trending move. The dollar is currently in a daily uptrend.  A close above the 50 day MA will indicate a continuation of its daily uptrend and signal a cycle band buy signal.

Stocks closed above the 200 day MA on Monday then began to consolidate below the 5900 level.   Stacks managed to close above the 5900 level on Friday.  The new high on day 28 locks in a right translated daily cycle formation.  Stocks remain below the psychological resistance level of 6000.  Stocks are currently stretched above the 10 day MA.  Stocks may need to continue to consolidate in order to allow the 10 day MA time to catch up to price.   However at 28 days, stocks are in the their timing band for a DCL. A swing high and a close below the 10 day MA will signal the daily cycle decline.  A break below 5907.36 will form a swing high.  Stocks are currently in a daily uptrend.  Stocks will remain in their daily uptrend unless they close below the lower daily cycle band.

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.
Also included in the Weekend Report is the Likesmoney CycleTracker

Subscribers click here.