Miners Seeking Yearly Low
Posted on December 13, 2016 [Blockierte Grafik: https://i1.wp.com/s22.postimg.org/x5jmjtdo1/image.jpg]
I believe that the Miners are still seeking out their yearly cycle low.
[Blockierte Grafik: https://s23.postimg.org/6iqb2wg3v/GDX.jpg]
The Miners are in their timing band for a intermediate cycle low and a yearly cycle low. Currently the daily cycle sports a peak on day 3, indicating a left translated daily cycle formation. Left translated formations typically break below the previous low to signal a failed daily cycle.
Tuesday was day 20 for the daily Miner cycle. That places the Miners in their timing band for a daily cycle low. Since a cycle low is defined as the lowest point following the cycle peak, that means that the Miners will need to break below the day 7 low of 20.14 to print a lower low. A break below 20.13 forms a failed daily cycle. With Wednesday being Fed day, there is a decent chance that we will see the Miners spike down, printing a lower low. Then a swing low would signal a new daily cycle and very likely a new weekly and yearly cycle as well.
