The Miners
The Miners have been consolidating since peaking in early March.
A break out of consolidation should result in a trending move.
The Miners are in a daily uptrend. A bullish break out of consolidation could trigger a melt-up phase. However, we need to be aware that the Miners are stretched above the 10 day MA along with bearish divergences developing on the oscillators. This is beginning to look similar to the top that formed in May, 2021 and 38.50 should still be used as a stop.
Stocks remain stretched above the 10 day MA.
Stocks have begun to crawl along the 200 day MA, which is allowing the day 10 MA to catch up to price.
So tonight I wanted to drill down to the 4 hour chart for a different perspective.
The above chart shows us that stocks are consolidating below the 200 MA on the 4 hour chart.
A longer term look at the 4 hour chart shows that a trending move can develop once stocks close above the 200 MA.
Monday during the pre-market we noted that stocks were running into resistance.
We also noted that stocks have been consolidating below resistance for the past few months.
After consolidating below resistance for 2 months, breaking out convincingly above the resistance level can lead to a a trending move. Stops can be moved to the new breakout level.
Stocks across the board are running into resistance.
Stocks have been consolidating below resistance for the past few months. A bullish break out of consolidation could result in a trending move.
This is the one chart to watch for gold’s next trending move. Gold is in a monthly triangle consolidation. In a triangle consolidation the cycle low can migrate to the apex of the triangle. A bullish close above the declining monthly trend line should result in a powerful trending move.
Back on 10/30 we looked at the big picture for gold.
We discussed that gold was in a monthly triangle consolidation and that a breakout of this multi- year consolidation should result in a powerful trending move.
Gold is breaking out.
A full report on gold, including the daily, weekly and yearly cycle can be found here.
Gold closed below both the 200 day MA and the 10 day MA on Friday to signal the daily cycle decline. Gold should go on to turn the 10 day MA lower as it seeks out its DCL.
But today, I want to focus in on the big picture.
Gold is in a monthly triangle consolidation. In a triangle consolidation the cycle low can migrate to the apex of the triangle. A break out of this multi- year consolidation should result in a powerful trending move.
Occasionally it is beneficial to stand back and look at the big picture. This week we will do that with stocks and gold.
The decline into the ICL has stretched the ‘elastic band’ lower. This quick recovery of the all time highs could trigger a final melt-up phase.
Gold is in a monthly triangle consolidation. In a triangle consolidation the cycle low can migrate to the apex of the triangle. A break out of this consolidation should result in a powerful trending move.
Is gold ready to begin a trending move?
Gold had been contained by the 1750 resistance level for the prior 11 weeks. Gold is in position to close above 1750 resistance level on a weekly basis. A close above this resistance level is necessary for a trending move to develop. Currently, gold is in a weekly uptrend. Gold will remain in its weekly uptrend unless it closes below the lower weekly cycle band.
The Miners
The Miners closed above their multi year resistance level.
The Miners have been consolidating for over the past 6 years. Closing above the multi year resistance zone should trigger a trending move.
In my Special Report: Major Opportunity For the Miners, I plan to breakdown the all of the Miners’ cycles and why I think this is a major opportunity for the Miners.
Along with my Special Report: Major Opportunity For the Miners, I am running a 6 week trial subscription special. The 6 week trial subscription you will have 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 and weekly 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.
For the special report: Major Opportunity For the Miners and 6 week trial subscription offer click here.
Current subscribers can access the report here.
Cycle Trading 