The Miners
The Miners have been consolidating since peaking in early March.
A break out of consolidation should result in a trending move.
The Miners are in a daily uptrend. A bullish break out of consolidation could trigger a melt-up phase. However, we need to be aware that the Miners are stretched above the 10 day MA along with bearish divergences developing on the oscillators. This is beginning to look similar to the top that formed in May, 2021 and 38.50 should still be used as a stop.
Good morning! May I suggest that you also include cycles analysis of Bitcoin from time to time? Crypto market is gathering more and more momentum; I have my own example and of some of my acquaintansces: we were negating this market some 6 ys ago, then came to accept it, then to trade it and now…we are trading it exclusively, leaving out all other traditional markets due to better returns and…to cycles perceived to be shorter.
I do report on Bitcoin, via GBTC, for subscribers. A sample can be found here.
Aha. Thank you!
Would you see the low on Jan24 as a Multi-YCL since GBTC undercut the YCL set in 2021? Or the low in 2021 was not an YCL but only an ICL, so that the Jan24 low was an YCL only (not a MYCL)?
The short answers no.
Please understand that I am more comfortable with the daily and weekly cycle counts than the yearly cycle counts
Simply because there is more data.
What I believe you are suggesting is that the low in 2021 was the YCL.
Therefore the lower low in 2022 undercut that low, producing a failed yearly cycle.
The would potentially setting up for a multi year low.
When I look at the weekly chart the low set in Jun,2021 did not form as a result of a failed weekly cycle.
Because of this, I am reluctant to label the June 2021 low as a yearly cycle low.
But since the January 2022 low undercut the Jun 2021 low, that formed a failed weekly cycle so Jan 2022 is potentially the yearly cycle low.
Here is something that is beginning to emerge as a pattern.
While there is not enough data for me to determine the yearly cycle count with a great deal of confidence …
we are beginning to see the yearly decline stretch from 10 to 12 months.
Awesome! Thank you for your extensive reply and for all your great work!
New around here, looking to learn 😉…
When I look back through chart history, the breakout in early 2016 looks almost identical to this current rally in GDX/GDXJ, on Daily & Weekly candles… Even the RSI & MACD have identical pattern. What do you think? Perhaps this rally could turn out to be similar in magnitude, and we’re only 1/3 along?
Are we in an Intermediate decline in Gold…? Or have started the next Intermediate leg up, to break out past Mar. 8 high, in another RT Weekly cycle? Just by visual, to me it looks like from late Jan – late Mar was a RT IC, and now starting in a new one. But, I’m very, very new to this analysis, and just here open to learn.
I’m really wanting to know better where we are in this Gold cycles, what the next 2-5 years looks like.
Going to check out your subscription. Do you provide updated Daily/Weekly/Yearly cycle analysis on Gold?
Thank you 🙏
Kip,
I meant to reply sooner, but then it got away from me.
Regarding the Miners – I do see the similarities.
But what is more interesting to me is what is currently happening.
And right now the Miners are at risk of a run away move.
https://postimg.cc/rRNN3brz
Gold peaked on week 12 and the current week is week 17.
there is a lot of resistance at the 2000 level.
Rejection here would probably send gold into an intermediate cycle decline.
But with the Miners acting bullish – there is a possibility that gold can break through the resistance at the 200o level.
https://postimg.cc/zVRgy4Bh
Here is something that I provide my subscribers, the Likesmoney Cycle Tracker.
The left number is the current cycle peak.
The right number is the current cycle count.
LM
Cycle Trading 
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