Cycle Trading

The Miners printed a bearish engulfing candle on Monday.

Monday was day 35 for the daily Miner cycle. That places the Miners deep in their timing band for an daily cycle low. At this point in the daily cycle, the bearish engulfing candle has good odds of triggering the daily cycle decline. A close below the 10 day MA will signal the daily cycle decline. The Miners should break below the blue trend line before forming their DCL.

There is also a warning developing on the weekly chart.

This is week 17 for the intermediate Miner cycle. The Miners managed to close above the 50 week MA last week. But should the Miners form a weekly swing high and close below both the 50 week MA and the 200 week MA, that will indicate a false breakout and signal the intermediate cycle decline. A break below 20.56 forms a weekly swing high.