Cycle Trading

The Miners broke above the day 7 high this week. A new high on day 16 begins to shift the odds towards a right translated daily cycle formation.

Then the Miners formed a bearish reversal on Wednesday.

The Miners then delivered bearish follow through on Thursday by closing below the 10 day MA signaling the daily cycle decline. The Miners should break below its daily cycle trend line in order to complete its daily cycle decline. And if gold has begun its intermediate cycle decline then the Mines will likely follow. Which would increase the odds of the Miners filling the late January gap.