HUI - Coming down to the wire

There are lots of dynamics in play, with broad markets and commodities coming off hysterically over sold while gold continues to take a healthy dump off hysterically over bought.  Gold in ratio to certain headline currencies needs to continue working off the excess.  It is a process and in the markets, processes are seldom comfortable.

Meanwhile, Huey is in a process of its own; and that would be the process of determining whether today's would be Reverse Symmetrical Triangle will meet a similar fate as the H&S (AKA Crown of Thorns) from '07/'08.  A baby crown of thorns was ID'd long ago in 2007.  It morphed into a monster and the resultant damage went deeper than even I thought it would.  But it formed in alignment with very real macro fundamental considerations, which are absent today.

Consideration must be given to the fact that the 'real' price of gold has been doing something quite different in the multi-year run up to this (rev sym-tri) pattern than it it did in the multi-year run up to its pointy headed bro from the previous cycle.  But who needs rational thought when we've got a whole wide stock market full of blow horns and noise makers?

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