Tag Archives: HUI

Update; TA on HUI & US Stock Market, Admin Note

Yesterday HUI did exactly what we asked it to do in order to remain normal to the current plan.  It dropped into the 224′s, filled the gap and has not made a lower low to the last green arrow.  So it remains in a baby uptrend.  I would not get too concerned about reading a rising wedge into a 30 minute chart, but it is inserted regardless to again play Devil’s Advocate.

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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.