Cycle Trading

The Miners printed a lower low on day 18 and then formed a swing low on Monday. The Miners then broke below the day 18 low on Friday.

The question the I have been receiving is — did Friday mark a failed daily cycle?

There are bullish divergences developing on the oscillators that typically foreshadow the DCL. But even though a swing low formed on Monday, the Miners did not break convincingly above the declining trend line. And they still remain below the declining 10 day MA. That makes Friday’s lower low — day 24 for the daily Miner cycle. And at 24 days, that places the Miners in their timing band for a daily cycle low. The Miners are in a daily downtrend and will remain in their daily downtrend unless they can close above the upper daily cycle band.

I believe that there is a Miner opportunity on the horizon which will arrive at the conclusion of the current intermediate cycle. Which is something that I cover in the Weekend Report.

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