Getting in Sync

00

Gold’s daily cycle sits at day 17. The Miners sit at day 9. Gold is one day shy of entering its timing band for a daily cycle low while the Miners need another 9 days to enter its timing band.

gdx

The Miners peaked on day 5 with today being day 9, so the Miners and gold are out of sync. But if gold can extend its daily cycle past 24 days, that will allow the Miners to enter their timing band for a daily cycle low.

gld daily

Gold currently sports a day 14 peak. A swing high has formed and gold printed its lowest point today, finding support at the day 10 MA. Tuesday was day 17 for gold’s daily cycle. This places gold one day shy of its timing band for a daily cycle low. Since 6 of the previous 7 daily cycles ran 24 days or longer there is a good chance that this daily cycle will follow suit. And it will also give the Miners to sync up.

And gold is at an important juncture. The next couple of days will likely determine nature of this daily cycle. If gold loses the 10 day MA, then the odds shift to this daily cycle forming as a left translated cycle. But if gold breaks above the mini trend line and breaks to a new high, then gold will form a half cycle low and it will lock in a right translated nature to this daily cycle.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s