Play it again, Sam …

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The Industrial Metals were caught in a bear market decline

gyx jan

January was month 12, placing Industrial Miners in their timing band for a yearly cycle low and there was a bullish divergence developing on the weekly True Strength Indicator.

gyx jan rally

Once the new daily cycle began, the Industrial Miners rallied for over 15%.

gld nov

Gold was also caught in a bear market decline.
November was month 13, placing gold in its timing band for a yearly cycle low and there was a bullish divergence developing on the weekly True Strength Indicator.

gld nov rally

Once the new daily cycle began, the gold rallied for over 22%.

oil feb

Oil was also caught in a devastating bear market decline.
February was month 11, placing oil in its timing band for a yearly cycle low and there was a bullish divergence developing on the weekly True Strength Indicator.

oil feb rally

Since the new daily cycle began, the oil rallied for over 43%.

gdx january

The Miners, were also caught in a devastating bear market decline.
December was month 14, placing the Miners deep in their timing band for a yearly cycle low and there was a bullish divergence developing on the weekly True Strength Indicator.

gdx january rally

Since the daily cycle began, the Miners have rallied for over 67%.

ung

And there is a similar set up with NATGAS.
NATGAS has been caught in a devastating bear market decline.
March is month 17, placing the NATGAS deep in their timing band for a yearly cycle low and there is a bullish divergence developing on the weekly True Strength Indicator.

ung daily

The daily cycle show us that NATGAS is deep in its timing band for a daily cycle low. So today’s swing low has good odds to mark the daily cycle low. A break of the declining trend line confirms the new daily cycle.

All I can say is

Play it again, Sam …

4 responses to “Play it again, Sam …”

  1. Haejin Avatar
    Haejin

    GDX, GOLD, etc; they all now have bearish divergences…especially GDX…MASSIVE bearish divergence. These are now reaching higher highs on lower lows of your TSI or my Stochastics. Is that bullish still?

    1. likesmoneystudies Avatar
      likesmoneystudies

      Haejin,

      Your question is, the precious metals are making new highs despite the bearish divergences, is that still bullish?

      It is bullish because despite the bearish divergences, new highs continue to print. In a move like the cycle bands can help. Cycle bands tells us that GDX (and precious metals) are in a daily uptrend. They will continue in a daily uptrend until there is a close below the lower daily cycle band.

      00 gdx

      LM

  2. Haejin Avatar
    Haejin

    How did you generate the cycle bands? Which indicator in stocharts? thx

    1. likesmoneystudies Avatar
      likesmoneystudies

      I consider the indicator & settings proprietary.

      LM

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