Cycle Trading: Miner Concerns

While closing above the upper daily cycle band on Tuesday and Wednesday begins a daily uptrend for the Miners, Thursday's swing high signals a concern.


This is week 26 for the intermediate Miner cycle and the Miners have not yet printed a failed daily cycle to confirm the intermediate cycle decline. So Thursday's daily swing high following the day 7 peak sets up a possible left translated daily cycle formation.  There is a bearish RSI pattern the is beginning to emerge and we can see that the TSI has begun a bearish pattern of lower highs and lower lows.  And with this being week 26 for the intermediate cycle, the late January Gap will likely begin to exert a gravitational pull, sending the Miners into their intermediate cycle decline.  A close below the 10 day MA will indicate that the Miners have begun their daily cycle decline.  Then a close back below the lower daily cycle and will end the daily uptrend and continue the intermediate cycle decline.

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