Miner Anticipation

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The Miners are in an extended daily cycle that peaked on day 23 and printed its lowest point on Wednesday, day 38.

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The Miners printed an inside day on Thursday, perhaps in anticipation of forming a daily swing low. While this daily cycle is extended, should the Miners form a swing low tomorrow this daily cycle will still maintain a right translated formation. A break above 21.40 forms a swing low and will likely mark the daily cycle low.

$ USD daily

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The dollar formed a swing high today. Now we are anticipating a daily cycle trend line break that signals the daily cycle decline. And a break below 93.39 forms a failed daily cycle which will confirm the intermediate dollar decline.

We are also anticipating a new daily cycle for bonds.

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The daily bond cycle peaked on day 24 and printed its lowest point on Wednesday, day 32. Bonds broke above the intra day high for Wednesday, forming a daily cycle low. A clear and convincing trend line break confirms a new daily cycle.

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4 thoughts on “Miner Anticipation

  1. LM, Thanks for the report. Question. Do you count gold’s day 1 on the same days as the miners? Gold had that crazy candle day about 4 days after the original pivot where the wick made a lower low but then recovered. I ask this because gold could be in a left translated daily cycle. If so, the miners might have a hard time making a new high.
    Additionally, I read your report regarding gold’s intermediate cycle which has gold in a very precarious position. Things are a bit muddy for me.

    • Labeling a daily cycle low, and consequently a day 1, is determined on each separate daily chart for Gold and the Miners. Often times we see the Miners printing a daily cycle low 1 to 3 days ahead of gold.

      Gold’s daily cycle peaked on day 13 and has been in decline since. A swing low did form on 2/05. There was no clear and convincing trend line break to accompany that swing low, therefore we continue to search for a low.

      Gold printed a lower low on Wednesday and today gold printed a higher low. A break above Wednesday’s high of 1238.70 forms a swing low and will likely mark the daily cycle low.

      LM

      • Therefore it will be left translates and roll over on or before day 8? So does this mean we expect a DC in the miners that will break the high of DC #2 while expecting gold’s daily cycle #3 peak to not break the high of DC #2?

      • The current left translated daily gold cycle makes me suspicious that this third daily cycle will also result in a left translated formation, but there are no guarantees. The “joker in the deck” is the dollar. The dollar is seemingly on the verge of an intermediate decline, which historically has been good to gold and the Miners.

        Right translated cycles, by definition, form higher highs and higher lows, so our expectation is to see the Miners print a higher daily cycle high.

        Gold, on the other hand, has a left translated formation, but did not print a lower low. The left translated formation is a waring signal. Gold can still go on to print a higher high this next daily cycle …

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