Have you noticed the HUI is making a beeline toward its all-time high? On the chart below, we show an inverse, Bullish Head & Shoulders bottom pattern with an upside target for the HUI of 600ish. Interestingly, should the HUI rise above 525, another larger Head & Shoulders bottom would be confirmed with an upside target of 850ish.

Also below, we show a Bullish inverse Head & Shoulders bottom for Gold with an upside target of 1,325ish. Both the HUI and Gold H&S bottom patterns are confirmed, raising the probability these upside targets are reached.

Both Gold and the HUI Amex Gold Bugs Index remain inside long-term rising trend-channels. Further, from an Elliott Wave perspective, Gold looks to be starting a fifth wave rally. For stocks it is the third wave that usually sees the most dramatic move, but in precious metals, the most dramatic move is usually the fifth wave of a five-wave move. So short-term, we expect Gold to make a strong run here, toward that 1,325ish upside target. We show charts of these Elliott Wave labelings and the rising trend-channels for both the HUI and Gold below.

The Daily, Weekly and Monthly Full Stochastics remain on Buy Signals this weekend.

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"Jesus said to them, "I am the bread of life; he who comes to Me
shall not hunger, and he who believes in Me shall never thirst.
For I have come down from heaven,
For this is the will of My Father, that everyone who beholds
the Son and believes in Him, may have eternal life;
and I Myself will raise him up on the last day."

John 6: 35, 38, 40