Gold Stocks HUI Bull Market Review

 

 

Finally gold stocks have made a convincing reversal, but it looks like a mini correction is in progress.  Any “B” wave bottom can produce a “C” wave bullish phase that can be very dramatic ones it starts to play out.  This “C” wave should have no problem with exceeding or retracing its entire decline from mid December 2016.  From this point forward, gold stocks will become more expensive, and only the trend chasers will jump on this bullish bandwagon.   The HUI did not decline as much as other gold stock indices or ETFs, but that is to be expected and really does not matter that much. What matters is that we understand that a correction has taken place, and when that happens, we know that gold stocks must push higher in another leg up.

This should continue well into the  spring or late spring of 2017.  We are witnessing a stock rotation alright, but they got the assets wrong that they are going to rotate into.  

While the majority were dumping  gold stocks out of fear, the contrarians ETF orders were kicking in.  They have been buyers all the way down in 2015, but they never buy all their positions at once.  They buy positions with many sets of GTC Ladder Of Orders which Steven Jon Kaplan has written in detail to me and his news letter followers. I also have a friend I visit that has worked extremely hard in the last 5 or more years, at becoming a contrarian as it does not happen overnight.  

Any Elliott wave analysis is seriously lacking all the indicators  that the contrarians have accumulated in many decades of research and practice. My effort is to use the best that contrarians have to offer, and apply them to all my wave counting positions.  Elliott wave has to confirm what the contrarians are doing, and will do,  not what the wild emotional traders or investors are doing.  Missing a major gold stock bull market is not an option for the well seasoned contrarians in this world. 

My futures chart server has been down this morning, so it may take some time before I can post my gold wave counts. 

As of today Elliott Wave 5.0 is on track to hit over 25,000 pages read this month, which breaks all records from all my blogs I have ever started.  Thanks for your contribution in achieving this amazing result. 

 

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