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