Cycle Trading

The Miners printed an intermediate cycle low on May 29th. They formed a convincing swing low and trend line break last week. And are currently providing bullish follow through.

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This is week 2 for the intermediate Miner cycle. This weekly cycle is developing bullishly. The Miners broke above the 50 week MA for the first time in 11 weeks. Following a weekly cycle that printed a higher weekly cycle low, our expectation is to see the Miners go on to print a higher weekly high during this weekly cycle.

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This is the first daily cycle of the new intermediate cycle. The Miners set a new high on day 14. Setting a new daily cycle high now swings the odds over to this daily cycle forming as a right translated cycle. (Thanks to ALEX for the reminder) On top of that the Miners just sliced through both the declining 200 day and declining 50 day MA’s. This is likely a mid-point consolidation that should see this daily cycle continue higher for up to another 2 weeks.