Cycle Trading

The Miners broke out above the 200 day MA on Thursday.

Back on Tuesday was noted that the Miners delivered a bullish surprise by forming a swing low. We were looking for a break above the 200 day MA to indicate that the 3/16 low was not only a daily cycle low, but an intermediate cycle low as well.

The Miners not only closed above the 200 day MA, but also closed above the upper daily cycle band.

Closing above the upper daily cycle and ends the daily downtrend and begin a daily uptrend. It also is another indication that the intermediate cycle low has been set.