HUI - Here is the Sym-Tri

NFTRH had been watching a potential Symmetrical Triangle when on April 6, it broke out to the upside (per chart below), but became over bought. It was noted that a pullback would be normal. We are still on a grinding, painful re-test. Now, I don't want to sound like a raving bull and I am more than happy to hunker down and await buying opportunities significantly lower, but as yet the dumb chart guy cannot call the rally kaput. Not quite yet, especially with many gold bugs getting really nervous.

People need to de-personalize the markets and just take what the markets give them, or get out of the way as appropriate.

"HUI has obviously made an impulsive break up and out of the symmetrical triangle. The attached daily chart refines the target of the sym-tri to 672, which is right on the money with our long standing bigger picture weekly target of 675-680 (potentially on the the way to the 3 Snowmen 888, one day).


Today's reversal/pullback appears normal, and I wanted to get a re-test zone view out to you per the chart. It would be normal for the index to drop into the shaded zone and possibly to the top line of the triangle for a re-test which, if successful, loads our upside targets.


Yesterday's breakout institutes a 'buy or add the pullbacks' regimen, with risk to be managed if the top line of the sym-tri and then the moving averages (shaded yellow), should fail to support any pullback.


Regards,


Gary"

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