
Stocks competed a daily swing low on Tuesday.

Stocks broke below the previous daily cycle low on Monday to form a failed daily cycle. Monday was day 46, placing stocks very deep in their timing band for a DCL. Stocks managed to recover the breakdown level on Monday, forming a bullish reversal. On Tuesday stocks completed a swing low so we will label day 46 as the DCL, using Monday’s low as the stop. Stocks should go on to recover the 10 day MA as they really out of the DCL.
The Miners also completed a daily swing low on Tuesday.

The Miners broke below the previous DCL last week to form a failed daily cycle. The Miners printed their lowest point on Monday, day 34, placing them deep in their timing band for a DCL. The Miners formed a swing low and pierced the declining trend line on Tuesday so we will label day 34 as the DCL. In the Mid Week Update I plan to discuss what this means in terms of the weekly Miner cycle.