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Cycle Trading

Miner Update

The daily Miner cycle peaked on day 14. They delivered a clear and convincing trend line break on Friday to confirm the daily cycle decline.

gdxhttp://postimg.org/image/tihljz421/

The Miners also lost the 10 day MA on Friday. The Miners failed to regain the 10 day MA Monday & Tuesday. Wednesday was a volatile day that saw a test of the declining 50 day MA along with printing a lower low. Wednesday was day 19 for the daily Miner cycle. The Miners have entered their timing band for a daily cycle low. A close above the declining 50 day MA will signal a new daily cycle.

3 responses to “Miner Update”

  1. M Avatar
    M

    Hi-
    thank you for your blog.

    Dont you think the last second dump in gdx today was suspicious?

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      If by suspicious you mean within the last few minutes of the day, then yes.

      gdx dump

      LM

      Reply
    2. likesmoneystudies Avatar
      likesmoneystudies

      One other thing.
      The5 largest component companies in the GDX ETF that account for over 50% weighting did not experience the last second dump yesterday.
      (GG, ABX, NEW, FNV,SLW)

      http://www.etfchannel.com/lists/?a=stockholdings&symbol=GDX

      Reply

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