Cycle Trading

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The Miners printed a bullish reversal today. At day 42, this is a very extended cycle, so a swing low will quite likely signal a new daily cycle. A break above 21.16 forms a swing low.

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The intermediate cycle peaked on week 11, was rejected by the 50 week MA, printed a weekly swing high and has delivered a break of the intermediate cycle trend line. While we do not have a failed daily cycle, all of this does point to the Miners being in an intermediate cycle decline. Given the aforementioned bearish signals it is quite likely that a new daily cycle will form as a left translated, failed daily cycle, which will lead to the intermediate cycle decline.