The Miners closed below the 10 day MA the previous Friday and has since been contained by it — until Friday.
The peak on day 2 indicates a left translated daily cycle formation. The Miners should trend lower for another 2 – 3 weeks before forming its DCL. A break below the previous DCL of 30.11 will form a failed daily cycle and continue the intermediate cycle decline.
However the Miners formed a swing low and closed above the 10 day MA on Friday. Any bullish follow through will have us label day 12 as a half cycle low. But a close above the 50 day MA would be a change of character and will force us to consider that day 12 was a shortened DCL. The Miners are currently in a daily downtrend. The Miners will remain in their daily downtrend unless they close back above the upper daily cycle band.
Cycle Trading 
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