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.

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