Miner Warning – Revisited

We looked at the Miners on Monday noting that the bearish engulfing candle that formed on Monday has good odds of sending the Miners into their daily cycle decline.

So far the Miners have resisted.

Day 33 still remains as the daily cycle peak. But the Miners have finally closed below the 10 day MA, signaling that they are beginning their daily cycle decline. Being so late in their timing band for a daily cycle low does not leave much time for a daily cycle decline. So at this point I am not expecting the Miner’s daily cycle decline to last too long. But it should last long enough to break below the (blue) daily cycle trend line before printing its DCL.

It is worth noting that the Miners have been in a daily uptrend. Therefore, once they beak below the accelerated (black-dashed) trend line, if a swing low forms above the lower daily cycle band than would mean that would trigger a daily uptrend buy signal.

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2 thoughts on “Miner Warning – Revisited

  1. Likes,
    Are you expecting one more DC after this one? If so, it would probably be a short one to balance out the current, very extended DC

    • I am definitely expecting one more daily cycle for the Miners. The reason being is that the current daily cycle is right translated. The Miners will need at least one daily cycle to left translated and fail, in order to usher in the ICL.

      LM

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