Swing Low

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Both the Miners and gold broke above Thursday’s low to from a swing low today.

5 miners

3 gld

Both the Miners and gold were late in their timing bands to print a daily cycle low. So today’s swing lows will likely mark their daily cycle low. A close above the lower daily cycle band will confirm the new daily cycle.

Stocks have eased their parameters today for forming swing low.

2 spx

Monday was day 38 and stocks printed a bullish engulfing candle. At 38 days, stocks are in their timing band for forming a daily cycle low. A break above 2053.22 forms a swing low. Then a declining trend line break will confirm a new daily cycle.

The current daily equity cycle managed to break above the upper daily cycle, peaking on day 25, indicating that stocks are in a daily uptrend. By avoiding a close below the lower daily cycle band maintains the bullish daily uptrend.

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