HUI Late 2015-2016 Review

 

hui-oct-11-2016

 

When we look back to August 2015 and then the January bottom I show it as an expanded bottom, which I have done several times before. I could be wrong, but if there is any doubt at all, that an expanded bottom has happened, unknown to the masses, then this HUI chart has no option but to crash to a new record low again.  We are a good 1/3 of the way there already, but who says it will stop at a double bottom.

SIL sure came close to an extreme gold/Sil ratio. The HUI also came close to an extreme in early August, which managed to hit a ratio of under 5:1, with 3:1 being extremely expensive.  This morning we were at just above 6:1 which is getting cheaper, but still far away from the 10:1 ratio we may need.  

I would be looking for another zigzag on this downward slope, and I’m sure it will try and fool us as being a major bottom. At a bottom of what?  

We are also at a good setup for a diagonal wave 1 so anything can still happen. 

Hits: 1

Share this...
Email this to someone
email
Print this page
Print