Cycle Trading

The Miners closed above After the 200 day MA last Tuesday . They lost the 200 day MA on Thursday and then closed lower again on Friday.

The Miners did get a bit stretched above the 10 day MA as they rallied out of the day 17 DCL. The decline on Thursday and Friday allowed the 10 day MA to catch up to price.  Then the Miners delivered a bullish surprise on Monday by rallying 3.37% to form a swing low and recover the 200 day MA.   

The Miners formed a weekly swing low last week to signal a new intermediate cycle.  Monday’s bullish recovery of the 200 day MA is more evidence that not only are the Miners in a new daily cycle, but beginning a new intermediate cycle as well.   This is something that I plan to discuss further in the Weekend Report.