Last week we suspected that the Miners were going to form a left translated daily cycle to continue its intermediate cycle decline. This week we can see that our suspicions were confirmed.
The decline into the day 18 DCL caused the Miners to close below the lower daily cycle band, which indicates the intermediate cycle decline. And during the declining phase of an intermediate cycle RSI reverses quickly when overbought which we see at (1) and (2). The peak on day 7 sets the Miners up for a left translated daily cycle formation. The Miners closed below the 50 day MA on Wednesday. On Thursday they delivered bearish follow through by closing below the 10 day MA to signal the daily cycle decline and a continuation of the intermediate cycle decline.
Cycle Trading 
Leave a comment