Cycle Trading

The Miners broke out to a new daily cycle high on Thursday.

Breakouts that occur late in a daily cycle cycle tend to not have follow through. Partly because of there not been many days left in the daily cycle. Over the past 2 years the Miners had 15 daily cycles that averaged 32 days from trough to trough. Thursday was day 27 for the daily Miner cycle, which places the Miners in their timing band for a daily cycle low. The Miners formed a bearish reversal on Thursday. The bearish reversal eases the parameters for forming a daily swing high. Then a close below the breakout level will signal the daily cycle decline.