Cycle Trading: Miner Clarity
|Prior to this week, Week 16 was the lowest point for the Miners following the early September peak. Since 16 weeks was a bit early for an intermediate cycle low we were looking for a close above the rising 50 week MA for confirmation of a new intermediate cycle.
As shown from Saturday's chart from the Weekend Report it's been four weeks since the week 16 low and the Miners haven't closed above the rising 50 week MA.
However, as you will see in the next chart they have finally delivered some clarity.
This week the Miners broke below the week 16 low in a clear and convincing manner to make this week 21 for the intermediate Miner Cycle. And 21 weeks places the Miners in their timing band for an intermediate cycle low. Which means that the odds are favorable that the next daily cycle low will also signal the intermediate cycle low.
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