HUI, Gold Stock Bearish Review

 

hui-sept-28-2016

 

Contrarians may not agree, but this bullish phase should have corrected some time ago and then started to carry gold stocks to the moon. Unless they jumped on a SpaceX rocket that has blown up 10 minutes off the launching pad. 🙂  Going to the moon is just an expression that has been used many times in the past, and I’m sure we will read it again at some future bull market top. 

This bullish phase can be in one of two positions, either the bullish phase is not finished and gold stocks head higher, or we think the unthinkable that this bullish phase was a fake start.  Be aware that we could be walking into a mini bear trap, as we could have bottomed at a wave 2 already. If that is the case, then yes, another leg up should develop soon. 

Any potential “D” wave rally is a bull trap clearly detailed in the EWP blue book.  Another great scenario would be that gold stocks decline about 50% or to my previous “B” wave bottom, and then they start to roar with a huge “C” wave bullish phase to a new real “D” wave top.  

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