Cycle Trading: Miner Buy Signal
The Miners delivered a cycle band buy signal on Tuesday.
Since early June the Miners have been in a daily uptrend. This uptrend has been characterized by highs occurring above the upper daily cycle band band lows forming above the lower daily cycle band.
Monday was day 34, placing the Miners in their timing band for a daily cycle low. The Miners formed a swing low on Tuesday that closed above the 10 day MA to signal a new daily cycle. And since the swing low formed above the lower daily cycle band, the Miners remain in their daily uptrend and trigger a cycle band buy signal. The Miners will remain in their daily uptrend unless they close below the lower daily cycle band.
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