Alignment

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The Miners delivered another bullish day today.

1 gdx

Although the Miners did print a lower low today, they ended up almost 1% higher for the day. We discussed here last night that after losing the 50 day MA and breaking below the previous daily cycle low, that our expectation would be to see the Miners to continue to drop into an intermediate cycle low. Instead they delivered a bullish surprise for a second day in a row. Should the Miners continue higher, then a close above the 50 day MA and the declining trend line would have us label today as a day 14, daily cycle low.

Today gold entered in its timing band for a daily cycle low. If gold were to begin a new daily cycle, that would align with the Miners forming a daily cycle low here.

gld

Gold’s daily cycle peaked on day 11, lost the 200 day MA on day 12, then the 50 day MA on day 16. Now today is day 18 which means that gold has entered its timing and for a daily cycle low. If gold forms a swing low and closes back above the 50 day MA, then that would singal gold has begun a new daily cycle, leaving behind a right translated daily cycle.

If the dollar were to roll over here into a daily cycle decline then that would further align with the Miners and Gold.

2 $$$

The dollar has emerged out of its cycle low, closed above the 50 day MA on day 7, and then printed its highest point yesterday, which was day 8. Today the dollar printed a bearish inside day that could signal a change. A close below the 50 day MA would signal that the daily cycle has entered into its daily cycle decline. Should that occur then the dollar would be leaving behind a day 8 peak, which indicates a left translated cycle formation.

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