Source Yahoo Finance
The HUI ended higher +1.26 points (+0.71%) with a CLOSE at 177.59. On the daily chart, the fast stochastic is flat but with a small positive crossover. The slow stochastic is flat with a small positive crossover. MACD is rising with a positive crossover of a rising Signal line. Divergence is up and remains above the zero mark.
Source Yahoo Finance
GLD ended higher +$0.60 (+0.48%) with a CLOSE at 126.39. On the daily chart, the fast stochastic is flat with a negative crossover. The slow stochastic is flat with a small negative crossover. MACD is flat with a negative crossover of a descending Signal line. Divergence is up but under the zero mark.
Source Yahoo Finance
SLV ended lower -$0.02 (-0.13%) with a CLOSE at 15.43. On the daily chart, the fast stochastic is flat with a negative crossover. The slow stochastic is flat with a negative crossover. MACD is flat with a negative crossover of a flat Signal line. Divergence is down and under the zero mark.
The main purpose of this blog is to demonstrate that the HUI trades in an orderly fashion both in "price" and "time". I publish daily target numbers well in advance to demonstrate the orderly fashion in which the HUI moves. If the HIGH, LOW or CLOSE is within 0.50 points of a daily target number it is a "hit". The "bear" target numbers for this current move were posted on February 28, 2018 and are:
198.77
195.99
193.49
191.54
188.21
182.97
177.63
174.42
168.71
163.12
Today the HUI opened with a gap higher. The Bulls pushed the HUI to the HIGH at 178.38. The Bears took command and drove the HUI to the LOW of 176.69. The HUI became range bound into the CLOSE at 177.59 (-0.04 points) for a "hit" of the daily target number 177.63.
The HUI did something a little odd today in that it opened higher and still managed to end the day higher.
I remain long in the HUI. The battle lines remain the same, above 179.75 to confirm a rally and conversely below 171.49 then a nasty drop is in the cards. A clearly defined "wedge is forming on the chart as the range of the HUI gets tighter and tighter. Which ever way the HUI breaks this range, either to the upside of the downside will be rather impressive.
GLD, is still up and over the 126.00 level.
SLV, whatever?
These are just my thoughts and observations, not advice etc.
Please share your thoughts, comments, upvote, follow.
Enjoy the weekend!
As for Monday, good luck and happy hunting.