• 14 hours From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 19 hours Are Smart TVs Spying On Us?
  • 21 hours Is Fossil Fuel Divestment A Waste Of Time?
  • 2 days A Russian Billionaire’s Space Quest To Save Humanity
  • 2 days Markets Take Breather As Consolidation Continues
  • 2 days Economic Woes Weigh On Copper Prices
  • 2 days World's Largest IPO At Risk Following Drone Strikes
  • 3 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 3 days What’s Behind The Silver Sell-Off?
  • 3 days The Retail Apocalypse Is Accelerating
  • 3 days The Top Tech Stocks Of The Year
  • 4 days America’s Workforce Elderly Workforce To Double By 2028
  • 4 days Toyota Tests Solar-Powered Prius
  • 5 days Why The Gold Rally Flatlined
  • 5 days The Uranium Sector Can’t Catch A Break
  • 6 days Upcoming Fed Meeting Has Investors On Edge
  • 6 days Global Gold Sector Outlines Responsible Mining Principles
  • 7 days China’s Giant Vampire Fund Loses $120B
  • 7 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 7 days Savvy Investors Are Betting Big On This Little Data Company
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Rambus Chartology

Rambus Chartology

Rambus Chartology

Rambus Chartology is Primarily a Goldbug TA Site where you can watch Rambus follow the markets on a daily basis and learn a great deal…

Contact Author

  1. Home
  2. Markets
  3. Other

HUI Update...Beautiful Chartology

Below is a two year daily chart for the HUI which I first showed you when the HUI broke above the double bottom hump to start its bull market. I call this chart the reverse symmetry chart as shown by the red arrows. How a stock comes down, especially in a strong move, will reverse symmetry back up over the same area. It's more of an art than a science. You can see the rally off of the mid January low found a little resistance at 182 before it broke through. Now it's testing the next overhead resistance line at the 208 area and has been finding some resistance which we should initial expect. Today is the fourth time that the HUI has tested the 208 area from below. A breakout above the 208 area will put the next area of resistance on the map at 250 or so which would happen fairly quickly as the decline back in 2014 was pretty steep. If the HUI fails to breakout right here at 208 then support will show up at the previous high at 182 or so.

HUI Gold Bugs Index Daily Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment