A Miner Update

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The Miners printed a lower low today.

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Wednesday was day 22 for the current daily cycle. The lower low printed today has eased the parameters to form a daily cycle low. A break above 23.49 forms a swing low and possibly the daily cycle low. And if a daily cycle low forms here, then the Miners printed a higher low. A higher low would signal a new intermediate cycle. Perhaps the Miners are sniffing out possible weakness in the dollar…

The dollar’s daily cycle sports a day 5 peak with today being day 9. After the initial surge out of the daily cycle low the dollar has been caught in between the 200 day MA and the 50 Day MA.

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A close above the the 200 MA signals that the 3 year low printed in October. A close below the 50 MA signals that the 3 year low is still in front of us.

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