(free use photo)
Source Yahoo Finance
The HUI ended higher +3.59 points (+2.07%) with a CLOSE at 177.08. On the daily chart, the fast stochastic is rising with a positive crossover. The slow stochastic is rising with a positive crossover. MACD is rising with a positive crossover of a slightly rising Signal line. Divergence is up and over the zero mark.
Source Yahoo Finance
GLD ended higher +$1.19 (+1.01%) with a CLOSE at 118.65. On the daily chart, the fast stochastic is rising with a positive crossover and no longer embedded in oversold territory. The slow stochastic is slightly rising with a small positive crossover and embedded in oversold territory. MACD is rising with a negative crossover of a slightly descending Signal line. Divergence is up and under the zero mark.
Source Yahoo Finance
SLV ended higher +$0.12 (+0.80%) with a CLOSE at 15.03. On the daily chart, the fast stochastic is slightly rising with a positive crossover. The slow stochastic is slightly rising with a very small positive crossover but remains embedded in oversold territory. MACD is flat with a negative crossover of a slightly descending Signal line. Divergence is up 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".
I posted the following "bear" target numbers on May 22, 2018.
181.07
179.67
178.47
177.43
175.75
173.12
170.43
168.81
Yesterday I wrote:"For tomorrow, look for the Bears crush the bulls by taking out today's low and driving the HUI to 170.43 or below. For the Bulls the goal is to take out Friday's HIGH and get the HUI above 175.75."
The HUI opened with a gap higher. The LOW came in early at 175.43 (-0.32 points) for a "hit" of the Bear daily target level of 175.75. The Bulls continued to press forward into the HIGH at 178.82 (+0.41 points) for a "hit" of the Bear daily target level of 178.41. The HUI faded into an early CLOSE at 177.08 (-0.35 points) for a "hit" of the Bear daily target level of 177.43.
Still hitting these Bear target levels, but we are in the season for a change which officially began today. We shall see.
The Market is closed tomorrow for the 4th of July Celebration.
For Thursday, look for the Bears to push the HUI below the 175.75 level. For the bulls the goal is to take out today's high and drive the HUI towards the 179.67.
I remain long the HUI, in a "core" position. I am looking to add to my longs. I have calculated some Bull target numbers depending on whether the LOW of June 28th at 169.42 holds. These numbers are: 174.46; 175.79; 176.98; 177.92; 179.50; 181.99; 184.54 and 186.07. We shall see if a new bull move has begun.
GLD - the fast stochastic is no longer embedded but the slow stochastic remains embedded in oversold territory.
SLV - no longer flat lined but not yet bullish.
These are just my thoughts and observations, not advice etc.
Please share your thoughts, comments, upvote, follow.
As for Thursday, good luck and happy hunting!