I reported over the weekend on Gold’s longer term 5 Month Intermediate Cycle outlook and today’s update will focus on the shorter term Trading Cycle (24-29 days low to low on average).

I have mentioned a couple of times that Gold and the Miners Intermediate Cycles have diverged and I still believe that may be the case. If so, the Miners may not correct as hard as the Metal into early April, when I expect Gold to find its next 5 month Intermediate Cycle Low. In fact, if my TC analysis on the Miners is correct here, their TC trend line is still in tact.

My first two charts are on Gold. I mentioned today in a quick post that Gold and the Miners had broken support but it now appears that just Gold has. During the Bear, the Miners often led Gold down. Perhaps now they are reversing their role and resisting Gold’s move into the next short term TC Low.

Time will Tell 🙂

Gold TC Trendline

Gold TC Counts

Next chart is on the Miners (GDX). It would appear to me that GDX had a very mild TC Low on day 29 and is now on Day 9 of a new Trading Cycle and right at support of its current Trendline which appears to be a consolidation pattern for now unless it breaks to the downside over the next few days.

A break below the previous TC Low would indicated a Left Translated or failed Trading Cycle which would most likely move the Miners into their next longer term IC Low in April.

A move up from here to the upside of the current wedge would be bullish.

Screenshot 2016-03-14 19.55.24