Tag Archives: HUI

HUI Gold Bugs Index Symmetry, Updated

On Monday the chart below was included in a post called HUI Gold Bugs Index Symmetry, before it had a chance to start making this week’s candle.  Excerpted from the post:

“There can be a final drop this week but ultimately (going strictly by technicals, the fundamentals are another matter to be managed along side) if symmetry holds it would be a positive week for the miners.”

hui

Well, I am not going to pretend I had a good week.  It was an aggravating week at best.  But at least Huey hung on and did indeed have a (barely) positive week after dropping early in the week (right off the bat on Monday, as it turned out) as speculated upon.

If symmetry holds, a new up leg would generate off of this right side shoulder.  But even if that happens, according to a more detailed game plan in NFTRH, gold stocks would not necessarily be out of the woods just yet.  So if we are lucky enough to go bullish, do me a favor, eh?  Keep your balance and don’t listen to the cheer leading that will be sure to crop up.

Have a good weekend.