July 8: "See daily chart of HUI attached. Huey bottomed a couple weeks ago in the thick band of support noted on the attached at around 490, formed a short term bottoming pattern and has now established short term visual support at 520 and in rising above both the EMA's 50 and 200, moving average support at around 527.
The index has been strong the last three days and is probably coming due for some kind of pullback. All will be normal and healthy for continued near term upside if a pullback reaches the 520 area and the EMA 20. An unexpected decline below that would open up more bearish possibilities.
These are the parameters; a pullback to 530 ---> 520 is to be expected and is normal."
Here's the chart from the email, along with today's updated version.
Edit (2:20) Fed minutes don't hurt the bullish cause one little bit.
http://www.biiwii.blogspot.com
http://www.biiwii.com
