HUI Hit a 2% Follow Through Monthly Cycle Buy Signal
HUI hit a 2% follow through monthly cycle buy signal today, which requires at least 2 hours of follow through after breaking the monthly downcycle trendline, spikes followed by downtrends can't trigger buy signals. So, monthly cycle lows probably occurred early yesterday for HUI/NEM/XAU.
The NEM Lead Indicator was a very bearish -1.03% vs the XAU yesterday, so, waiting for a pullback probably makes sense. For recent action see http://finance.yahoo.com/q/ta?t=5d&l=off&z=m&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=&s=%5Ehui. ....... http://www.JoeFRocks.com/
The NEM Lead Indicator was a very bearish -1.03% vs the XAU yesterday, so, waiting for a pullback probably makes sense. For recent action see http://finance.yahoo.com/q/ta?t=5d&l=off&z=m&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=&s=%5Ehui. ....... http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
7:35 AM
