Cycle Trading

The Miners broke above the January intermediate cycle high in the first week in April.  The Miners have been consolidating above the 33.34 Level since.  

The rally into the week 8 high caused the Miners to get stretched above then 10 week MA.  This sideways consolidation is allowing the 10 week MA to catch up to price.  The Miners are in a weekly uptrend.  A bullish break out of consolidation will indicate a continuation of the weekly uptrend and signal a cycle band buy signal.  But a break below the 33.34 consolidation level would potentially set the Miners up for a left translated weekly cycle formation.