Cycle Trading

The daily Miner cycle peaked on day 27. It formed a a daily swing high on Thursday, closing below the daily cycle trend line. The Miners then went on to print lower low on Friday, day 32, which is in the timing band for a daily cycle low.

Point #1 — The Miners delivered a bullish surprise

The Miners delivered a bullish surprise by regaining the day 10 MA on Friday and delivering bullish follow through on Monday and Tuesday, closing above day 27 high

Point #2 — The Miners have triggered a cycle band buy signal

The Miners closed above the upper daily cycle band on April 10th to establish a new daily uptrend. Since the swing low that formed off the day 32 pivot did not close below the lower daily cycle band, that signals that the Miners remain in their daily uptrend and trigger a daily cycle band buy signal.

Point # 3 — The Miners are set up for a historic slingshot.

Stretching the elastic in one direction usually results in a reciprocal effect in the other direction. There was a historic selloff into the March low. That stretched the elastic band to an unprecedented level and should now result in a historic slingshot effect which should be further empowered by breaking above the multi year resistance level.