The Miners printed a lower low on Thursday.
Printing a lower low on Thursday negates Wednesday’s swing low and extends the daily cycle decline.
Thursday was day 18, placing the Miners in the early part of their timing band for a DCL. A swing low is required to mark the DCL. Printing a lower low on Thursday means that the earliest the Miners can form a swing low will be on Friday. A break above Thursday’s low of 32.47 willl form a swing low. As we discussed on Wednesday, the Miners need to close above the previous daily cycle low of 32.87 to increase the odds that DCL has formed.