Source Yahoo Finance
The HUI ended higher +1.39 points (+0.78%) with a CLOSE at 180.59. On the daily chart, the fast stochastic is flat with a negative crossover. The slow stochastic is descending with a negative crossover. MACD is flat with a negative crossover of a descending Signal line. Divergence is up and remains below the zero mark.
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Source Yahoo Finance
GLD ended lower -$0.06 (-0.05%) with a CLOSE at 123.65. On the daily chart, the fast stochastic is flat with a negative crossover and the K line dipped back into oversold territory. The slow stochastic is flat with a negative crossover and embedded in oversold territory. MACD is descending with a negative crossover of a descending Signal line. Divergence is up and under the zero mark.
.png)
Source Yahoo Finance
SLV ended higher +$0.18 (+1.18%) with a CLOSE at 15.42. On the daily chart, the fast stochastic is rising with a positive crossover. The slow stochastic is flat with a negative crossover and today became embedded in oversold territory. MACD is flat with a negative crossover of a 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".
The "BULL" target numbers for this current move were posted on April 11, 2018 and are:
180.60
183.79
186.65
188.90
192.70
198.72
204.85
208.54
Yesterday I wrote: "For tomorrow, look for the Bulls to verify the "buy" signal by taking out today's HIGH (179.28) and regain contact with 180.60. For the Bears, an inside day would be good work, and taking out today's LOW and driving the HUI down would be great work."
The HUI opened with a gap higher taking yesterday's high and confirming the "buy signal". The Bears did manage to drive the HUI to the LOW early in the session at 179.50. The Bulls took over and drove the HUI higher. After the FED announcement there was a bullish feeding frenzy taking the HUI to the HIGH at 183.40 (-0.39 points) for a "hit" of the daily target number of 183.79. The HUI faded quickly into the CLOSE at . . . wait for it . . . 180.59 (-0.01 points) for a "hit" of the daily target number of 180.60. How about that! How is that for regaining contact with 180.60.
Amazing to me, and I hope at least amusing to you. These numbers were published weeks ago and still, somehow as if there is a hidden hand guiding the market, control the market. These numbers were calculated based upon ratios found in the Bible.
For tomorrow, look for the Bulls to drive the HUI back up and over 183.79 by taking out today's high. For the Bears, take out today's low and fill the small gap at 179.28. The Battle for 180.60 continues.
I remain long in the HUI.
GLD, there will be no serious rally in gold until the slow stochastic comes out of oversold territory.
SLV, the slow stochastic became embedded in oversold territory today. If silver is going to rally the slow stochastic needs to come out of oversold territory.
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.
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