Tag Archives: buy signal

The 5/11/24 Weekend Report Preview

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The Dollar

The status of the daily cycle is not clear.

The dollar printed its lowest point on day 17, which was early for a DCL to form. But the bullish reversal off support from the 50 day MA could have triggered a DCL to form. The dollar formed a swing low but was rejected by the declining 10 day MA on Thursday. Any bearish follow through will likely extend the daily cycle decline. The dollar is currently in a daily uptrend.   A close back above the 10 day MA will indicate a continuation of its daily uptrend and signal a cycle band buy signal — in which we would then label day 17 as an early DCL.

Stocks

Stocks closed above the 50 day MA on Monday then delivered bullish follow through into Friday.

The new high on day 15 shifts the odds towards a right translated daily cycle formation. Stocks are now stretched above the 10 day MA.  Stocks may need to consolidate to allow the 10 day MA to catch up to price.  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

For subscribers click here.

Miner Consolidation

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The Miners have been forming a triangle consolidation, which is obscuring our daily cycle counts.

A break below the day 38 low of 32.20 would extend the daily cycle decline.  However, the Miners are currently in a daily uptrend.  A bullish break out of consolidation would indicate a continuation of its daily uptrend and signal a cycle band buy signal – which would affirm day 38 as the DCL making Tuesday day 10 of the new daily cycle. 

The 4/20/24 Weekend Report Preview

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The Dollar

The dollar is in the process consolidating below the 106.25 level.

The dollar did not manage to turn the 10 day MA lower at the day 24 low, so the status of the daily cycle is not clear.  The dollar is still stretched above the 10 day MA. A daily cycle decline will help to allow the 10 day MA to catch up to price. The dollar is in a daily uptrend.  A bullish break out of consolidation would indicate a continuation of its daily uptrend and signal a cycle band buy signal — in which we would then label day 24 as the DCL.

Stocks

Stocks closed below the 50 day MA on Monday then delivered bearish follow through on into Friday.

Stocks typically print a daily cycle low every 35 to 45 days. So at 72 days, stocks are overdue for a daily cycle low.  Stocks broke below the March low and are in the process of seeking out their ICL. Due to the extended daily cycle decline, stocks may not need another daily cycle to complete its ICL.  Stocks are currently in a daily downtrend. Stocks will remain in its daily downtrend unless it closes back above the upper 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

For subscribers click here.

 

Daily Cycle Low

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Stocks formed a swing low on Thursday.

Stocks printed their lowest point on Wednesday, day 65, placing them deep in their timing band for a DCL. Thursday’s swing low signals the new daily cycle. Stocks are currently in a daily uptrend. If stocks can close back above the 10 day MA that will indicate a continuation of its tail uptrend and signal a cycle band buy signal.

However, I do have longer term concerns that I will cover in the Weekend Report. But here is a hint.

Bitcoin Breakout – Update

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BTC broke bullishly out of its triangle consolidation on Monday. However, it did not deliver bullish follow through on Tuesday.

BTC formed a swing high on Tuesday and was below the upper stem at the time of this post, negating Monday’s breakout. It is possible that BTC was backtesting the 10 day MA. With BTC is in a daily uptrend, a swing low and a close back above the upper stem would indicate a continuation of its daily uptrend and signal a cycle band buy signal. But if BTC delivers bearish follow through and closes below the lower stem, that would signal the daily cycle decline.

Was That It?

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Stocks formed a bullish reversal on Tuesday — which has me wondering if that was it?

Tuesday was day 59, placing stocks deep in their timing band for a DCL. Tuesday’s bullish reversal eases the parameters for forming a swing low.

Stocks did break the daily cycle trend line and the10 day MA has begun to dip lower –which are some of the criteria needed for a DCL to form. Stocks are currently in a strong daily uptrend. A swing low and close back above the 10 day MA will indicate a continuation of the daily uptrend and signal a cycle band buy signal — in which we would then label day 59 as the DCL.

Bitcoin Buy Signal

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Bitcoin formed a swing low on Thursday.

Bitcoin printed its lowest point on day 56, placing it deep in its timing band for a DCL. Bitcoin closed above the 10 day MA on Sunday then delivered bullish follow through on Monday. BTC is currently in a daily uptrend.  Closing back above the 10 day MA indicates a continuation of its daily uptrend and signals a cycle band buy signal.

Miner Consolidation

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The Miners became stretched above the 10 day MA the previous week and have been consolidating above the 200 day MA.

If the face or a rallying dollar the Miners have demonstrated relative strength, holding above the 10 day MA. The Miners currently in a daily uptrend. A bullish break out of consolidation will indicate a continuation of their daily uptrend and signal a cycle band buy signal. A bearish break out of consolidation will signal the daily cycle decline.

Bitcoin Buy Signal

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BTC Delivered a buy signal on Monday.

BTC printed its lowest point on Friday, day 30, placing it in the early part of its timing band for a DCL.  BTC should turn the 10 day MA lower in order to complete its DCL. However BTC formed a swing low on Saturday then delivered bullish follow through on Monday. BTC is currently in a daily uptrend.  Forming a swing low and a closing back above the to day MA indicates a continuation of its daily uptrend and signals a cycle band buy signal — so we will label day 30 as the DCL.