Cycle Trading

The Miners backtested the 50 day MA on Monday.

As discussed in the Weekend Report, the Miners are in the 1st daily cycle of a new intermediate cycle. The expectation is for the 1st daily cycle to right translate. That aligns with the Miners are currently in a daily uptrend. If the Miners form a swing low above the upper daily cycle band that will indicate a continuation of the daily uptrend and signal a cycle band buy signal.

So with the Miners still relatively early in the new daily cycle, this may be a good time to change perspective and switch to the weekly chart.

The Miners are on week 3 of the new intermediate cycle. The Miners are likely to encounter resistance at the 50 week MA and then the 200 week MA. But if the October ICL was also the yearly cycle low, then the expectation would be for the new intermediate cycle to right translate — and peak after 12 to 14 weeks or more.