The Miners formed a swing low on Monday.
After peaking on day 12, the Miners drifted lower, forming a mini bull flag. The Miners printed a bullish reversal off of support from the converging 10 day MA and 50 day MA on Friday. On Monday, they delivered bullish follow through by forming a swing low. Monday's swing low allows us to construct the daily cycle trend line. A break below the daily cycle trend line will signal the daily cycle decline. However, the Miners are in a daily uptrend. Forming a swing low above the upper daily cycle band indicates that the Miners will remain in their daily uptrend and trigger a cycle band buy signal.