The Miners delivered a bearish signal on Thursday.
The Miners closed below both the day 20 breakout level and the 10 day MA. Thursday was day 32 for the daily Miner cycle. That places the Miners in their timing band for a daily cycle low. Closing below the breakout level and 10 day MA signals that the Miners have started their daily cycle decline, which can last 7 to 10 days. However the Miners have support at the 27.60 level from the converging 50 day MA and the 200 day MA. A back test of this convergence of moving averages would retrace the Miners to about the 38 fib level. So we will be watching for a swing low off of the converging MA’s to signal the daily cycle low.
Cycle Trading 
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