The Miners delivered a clear and convincing trend line break on Wednesday which signals a new daily cycle.
The Miners printed their lowest point on Monday, day 16. Following an extended cycle count (30 days) it is not uncommon to see a shortened cycle to balance out the overall cycle counts.
Since this was a failed daily cycle, the swing low that formed on Wednesday not only signals a new daily cycle, but potentially a new intermediate cycle. Regaining the 200 MA in a clear and convincing manner would signal that this is also a new intermediate cycle.
The dollar seems to be poised to help …
Wednesday was day 15 for the daily dollar cycle. A peak on day 6 indicates that this cycle is forming as a left translated cycle. The dollar broke lower losing the 10 day MA. A break below 93.39 forms a failed daily cycle and signals an intermediate cycle decline.