It's the Spider Metals and Mining ETF, ticker symbol XME. Let's begin by taking a look at the monthly chart. On the bottom, we have a cycle brackets showing an average cycle length of 16 bars.
These cycle brackets are a drawing tool showing ideal cycles where the actual cycle troughs formed is shown by these vertical dotted lines which you can then compare to the ideal cycle brackets to get a sense of the consistency of the cycles.
Around this most recent ideal cycle trough, we have these blue vertical dashed lines. These represent a period of time when we expect the latest cycle to form a trough and for price to begin moving up in the rising phase of the new cycle.
As you can see, that may have happened last month. That would put us one month off the cycle low, but we are still inside the timing window, which is a period of risk. And our reversal scout, this green and purple ribbon has not yet returned to positive to help us confirm that trough.
However, the next weekly cycle isn't due to trough until February, which would be way out here quite late. So that is why we believe this low last month may have been the synced long-term, intermediate term, and short-term low.
Now, this is a long-term chart, of course. So, our projection over the course of the next year would be for at least a retest of this high at 13568. We do have some extension levels higher than that at about 141 and 152.