Cycle Trading

The Miners formed a daily swing low on Monday.

The Miners printed their lowest point on Friday, following the day day 9 peak. At 24 days, that placed the Miners in their timing band to form a daily cycle low. The Miners formed a swing low and closed above the 10 day MA on Monday to confirm the new daily cycle.

The Miners also formed a weekly swing low on Monday.

The Miners printed their lowest point last week. At 16 weeks, the Miners need another 2 weeks before they enter their timing band for an intermediate cycle low. That sets up the expectation that this new daily cycle will form as a left translated, failed daily cycle to usher in the intermediate cycle low.

However the Miners are currently testing the declining weekly trend line.

The Miners lost the 50 week MA as they declined into the week 16 low. Already the Miners have formed a weekly swing low and have regained the 50 week MA. I said on Sunday that I believe that there is a Miner opportunity on the horizon which will arrive at the conclusion of the current intermediate cycle. A close above the declining weekly trend line would be a clear signal that week 16 hosted an early ICL.

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