Cycle Trading

The Miners formed a swing low on the weekly chart. They also closed above the 200 day MA. Together they signal that the Miners have begun a new intermediate cycle.

Closing above the 200 day MA was a major obstacle that needed to happen for the Miners to begin a new intermediate cycle. Another obstacle is the 50 day MA. Notice that the prior 2 attempts to break free of the 50 day MA failed – causing the Miners to extend their intermediate cycle decline. A clear and convincing break above the 50 day MA will confirm that not only are the Miners in a new daily cycle, but a new intermediate cycle as well.