Miner Optimism

The Miners broke out to a new daily cycle high on Thursday.

The new high on day 14 begins to shift the odds towards a right translated daily cycle formation. The Miners needed to close above the 200 day MA in order for a trending move to develop, which they did on Thursday. A close above the upper daily cycle band will signal a new daily uptrend.

It is beginning to look as if the Miners are not only advancing in a new daily cycle, but a new intermediate cycle as well. In the Weekend Report I will breakdown what the Miners need to do to signal a new intermediate cycle.

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