In the comments of a previous post from Fully, I said today could be a catalyst into a daily cycle low for CCJ.  It is very right translated, well in the timing band, but the drop today has not broken the inclining trend line.  I will be looking for a close below the blue trend line to get back long again.

This would have to be a short term trade, as from a yearly perspective, CCJ looks to be setting lows at the tail end of the calendar year.  This would give either two shorter daily cycles to close out a yearly low or one longer one.  Either way, upside is likely only over September and maybe October before it likely heads down toward breaking below the inclining yearly trend line in blue.

Overall the trend is up long term, but a prudent, long term investment might be better in December instead of now.