Source Yahoo Finance
The HUI ended higher +1.40 points (+0.98%) with a CLOSE at 144.45. On the daily chart, the fast stochastic is rising with a positive crossover and is no longer embedded in oversold territory. The slow stochastic is rising with a positive crossover but remains fully embedded in oversold territory. MACD is slightly rising but maintains a negative crossover of a descending Signal line. Divergence is up and under the zero mark.
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Source Yahoo Finance
GLD ended higher +$0.33 (+0.29%) with a CLOSE at 113.02. On the daily chart, the fast stochastic is rising with a positive crossover. The slow stochastic is rising with a positive crossover and is no longer embedded in oversold territory. MACD is rising with a small positive crossover of a rising Signal line. Divergence is up and over the zero mark.
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Source Yahoo Finance
SLV ended higher +$0.01 (+0.07%) with a CLOSE at 13.89. 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 but maintains a negative crossover of a flat 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
additional Bear target levels:
165.93
163.11
161.71
160.45
And still more Bear target levels:
159.47
157.79
155.15
And still even more Bear target levels:
152.46
150.84
147.97
Even More Bear Target Levels
145.15
143.75
142.49
141.51
139.83
137.19
134.50
132.88
130.01
127.19
Yesterday I posted: "For Tuesday, the goal for the Bears is again to take out Thursday's low and drive the HUI down to 137.19. For the Bulls, the first goal is to defend Friday's low, secondly take out today's high and again look to take the HUI to 145.15 or even better 147.97 regaining contact with long term support."
The Bulls made contact with the 145.15 level.
The LOW come in by mid-morning at 142.31 (-0.18 points) for a "hit" of the Bear daily target level of 142.49. The HIGH came in at 144.78 (-0.37 points) for a "hit" of the bear daily target level of 145.15. The CLOSE came in at 144.45.
For Wednesday, the goal for the Bears is again to take out today's low and drive the HUI down to 141.51. The goal for the Bulls is a slow and steady rise to the 147.97 level which is a long term support level.
I am doing a little trading to the long side. The "gap" at 152.43 that formed on August 14th is the first target of any counter trend rally. The fast stochastic is no longer embedded need to see if the slow can move out of oversold territory.
GLD - rally mode with the "gap" at 112.84 that formed on August 14th filled today, next up the "gap" at 114.61 that formed on August 10th.
SLV - taking a breather I guess?
These are just my thoughts and observations, not advice etc.
Please share your thoughts, comments, upvote, follow.
As for Wednesday, good luck and happy hunting!