Gold delivered a bullish move on Tuesday.
Gold had been unable to close above the 1430 level as it has been working through the triangle consolidation. However on Tuesday gold not only closed above the 1430, but it also closed above the declining trend line. Barring a reversal back into the triangle like we saw on day 13, closing above the declining trend line will have us label day 17 as the daily cycle low.
As I understand it, the reason for the jump in gold (on that chart) is that the August contract expires tomorrow, and the December contract has been trading about $10 higher than that. Both Stockcharts and Finviz seemed to have moved to the December contract. If you check other sources, you’ll see a gold price of about $1430.
Good point, thanks.
With Wednesday being Fed day, I guess we still need to wait to see if gold closes back down in the triangle or breaks out.
So with today’s action how low can miners fall before the cycle bottoms?
The Miners are on day 20 for their daily cycle, which is in the early part of their timing band for a daily cycle low. Which I discussed in today’s Mid-Week Update
Cycle Trading 
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