The Miners Were Close — But No Cigar

Since printing the day 54 low, the Miners had been coiling below the 10 day MA until Wednesday.

The Miners closed above the 10 day MA on Wednesday. They delivered bullish follow through on Thursday by closing above the upper daily cycle band to signal that day 54 was the DCL.  Closing above the upper daily cycle band signals a new daily uptrend. The Miners are close, but no cigar. The Miners will need to break above both the 200 day MA and the 50 day MA in order for a trending move to develop.

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