The Miners printed their lowest point on day 28, placing them in their timing band for a DCL.
The Miners formed a swing low on last Wednesday then closed above the 10 day MA on Thursday to signal the new daily cycle. The Miners proceeded to deliver bullish follow through to see them testing the declining 50 day MA on Monday.
The Miners lost the 50 day MA back in April. We could see the Miners trade sideways to allow the 50 day MA to flatten out. No trending move will be able to gain any traction until the Miners are able to close back above the declining 50 day MA. The Miners are currently in a daily downtrend. The Miners will remain in their daily downtrend unless they close above the upper daily cycle band.
On Tuesday we discussed that there is a major opportunity for the Miners. Tonight we will look at the Miner progress.
The Miners formed a swing low and closed above the 10 day MA on Wednesday. The Miners delivered bullish follow through on Thursday by closing a full candle body above the 10 day MA so we will label day 50 as the daily cycle low.
In the Weekend Report I plan to breakdown how the Miners are overdue for the intermediate and yearly cycle lows, as well. And forming a swing low could indicate not only the DCL, but the ICL and YCL as well.
The Miners were rejected by the 10 day MA on Friday. They went on to undercut the day 43 low on Monday to extend its daily cycle decline.
Monday was day 50 for the daily Miner cycle, making it severely overdue for a daily cycle low. After undercutting the low, the Miners could have easily went on to a 5 to 7 day bloodbath phase. But instead, they printed a bullish inside candle. That eases the parameters for forming a daily swing low. A break above 25.42 will form a swing low, Then a close above the declining 10 day MA will have us label day 50 as the DCL.
In the Weekend Report I plan to breakdown how the Miners are also overdue for the intermediate and yearly cycle lows, as well. There is a minor risk that the Miners will break below the day 50 low of 24.66 to extend its daily cycle decline. But if the Miners form a swing low, that could indicate not only the DCL, but the ICL and YCL as well.
On Wednesday we discussed that if the Miners formed a swing low on Thursday, that would represent a low-risk entry. However the Miners broke lower on Thursday to extend their daily cycle decline.
Thursday was day 43, placing the Miners deep in their timing band for a daily cycle low. The odds are good that a swing low and close above the 10 day MA will mark the DCL. The Miners formed a bullish reversal on Thursday, once again easing the parameters for forming a daily swing low and keeping the minor risk entry still in play. A bullish entry can be taken on a swing low, placing the stop below Thursday’s low of 24.92. A break above 25.89 will form a swing low. Then a close above the 10 day MA will signal the new daily cycle.
The Miners broke below the day 37 low on Wednesday to extend its daily cycle decline.
Wednesday was day 42, placing the Miners deep in their timing band for a daily cycle low. The odds are good that a swing low and close above the 10 day MA will mark the DCL. Wednesday’s bullish candle eases the parameters for forming a swing low. A bullish entry can be taken on a swing low, placing the stop below Wednesday’s low of 26.03. A break above 27.38 will form a swing low. Then a close above the 10 day MA will signal the new daily cycle.
The Miners have dropped over 34 % since peaking in April.
The Miners are in a 3 month downtrend and sentiment is bearish. However, the Miners printed a bullish reversal on Friday.
Friday was day 34 for the daily Miner cycle, placing them in their timing band for a DCL. Friday’s bullish reversal eases the parameters for forming a daily swing low. A break above 28.37 will form a swing low. Then a close above the declining 10 day MA will signal the new daily cycle.
The best time for the largest gains arrive at the yearly cycle low. In my special report, Miner Anticipation, I will break down where the Miners are in the daily, weekly and yearly cycles. I will include the confirmations that I am looking and the catalyst to set this all into motion — which I breakdown in my Special Report: Miner Anticipation.
This week I am offering a special 6 week trial subscription, along with the Special Report: Miner Anticipation for $15. Your 6 week trial subscription you will give you full access to the premium site which includes:
1) The Weekend Report, which is posted usually Saturday mornings. It discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles – Which includes the Likesmoney Cycle Tracker.
2) The Mid-Week Update. Posted on Wednesday’s is a review of the daily charts for the above mentioned asset classes.
3) The Weekend Updates take a look of the daily & weekly charts of GBTC, DAX, GYX, NATGAS & XLE.
4) Weekly Update of the Bullish Percentile Bingo
5) Frequent updates of my proprietary FAS Buy/Sell Indicator
The goal of the Weekend Report is to develop an on-going framework of expectations using cycle analysis.
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The Miners broke below the previous daily cycle low on Tuesday.
Breaking below the previous daily cycle low forms a failed daily cycle and extends the intermediate cycle decline. There are bullish divergences developing on the oscillators that often herald the cycle low. And with the Miners being in their timing band for an intermediate cycle low, the odds are good that once the DCL forms it will mark the ICL as well.
The Miners broke bearishly out of its coiling pattern on Thursday.
The Miners are currently in a daily downtrend. Breaking bearishly out of its coiling pattern indicates a continuation of the daily downtrend and signals a cycle band sell signal. However, that all changed on Friday.
The Miners printed a huge bullish engulfing candle on Friday. A close back above the 200 day MA would complete a reversal of the bearish breakdown and should result in a trending move — which we would then label day 20 as the DCL.
We discussed last last week how the Miners needed to close above the 200 day MA in order for a trending move to develop. The Miners did close above the 200 day MA last Thursday. However, they lost the 200 day MA on Friday and then closed below the 10 day MA on Monday, forming a daily swing high. The Miners are currently in a daily downtrend. Forming a swing high below the upper daily cycle band indicates a continuation of the daily downtrend and triggers a cycle band sell signal.
The Miners broke out to a new daily cycle high on Thursday.
The new high on day 14 begins to shift the odds towards a right translated daily cycle formation. The Miners needed to close above the 200 day MA in order for a trending move to develop, which they did on Thursday. A close above the upper daily cycle band will signal a new daily uptrend.
It is beginning to look as if the Miners are not only advancing in a new daily cycle, but a new intermediate cycle as well. In the Weekend Report I will breakdown what the Miners need to do to signal a new intermediate cycle.
Cycle Trading 