Cycle Trading: Miner or Major Low

The Miners printed a bullish reversal on Wednesday which eases th e parameters for forming a daily swing low.  And with the Miners being late in their timing band for a daily cycle low, a swing low will signal a new daily cycle. 

The bigger picture has the Miners at week 32, which places them deep in their timing band for an intermediate cycle low. The Miners did breach the weekly (blue) trend line, which has been our expectation for them in order to complete their intermediate cycle decline. 

The Miners appear to be forming a bullish weekly reversal off of the dual support from the 200 week MA and the 50 week MA. If a weekly swing low forms here that would signal the not only is a daily cycle low forming, but the intermediate cycle low is forming as well.  And if a weekly swing low forms above the lower weekly cycle band, then the Miners will remain in their weekly uptrend and trigger a weekly cycle band buy signal.