The Miners lost the 50 day MA on Tuesday, day 12, producing a failed daily cycle. With the Miners being 5 days shy of their timing band for a daily cycle low the expectation would be to see the Miners continue to drop.
Instead dropping they delivered a surprise by printing a bullish reversal. I suspect that we will see a tag of the 50 day MA before the Miners continue lower.
However if the Miners regain the 50 day MA and then go on to break above the declining trend line, we will be forced to consider a shortened 13 day, daily cycle low may have formed.