Bullish Behavior

Since our discussion from last week, the Miners have formed a monthly swing low to signal a new yearly cycle.

Notice that the Miners were in a daily downtrend as it declined into its yearly cycle low. That was characterized by peaks below the upper daily cycle band with lows forming below the lower daily cycle band. That is beginning to change. The Miners have begun to close above the upper daily cycle band. This is bullish behavior that signals an end to the daily downtrend. As the Miners establish a daily uptrend we should see peaks above the upper daily cycle band and cycle lows forming above the lower daily cycle band.