Friday, 30 March 2012

Russell 2000, HUI Index "Gold Bugs Index"

Not too much to say today. I am looking at the Hui Index "Gold Bugs Index"
At first glance you see a wave count that should make the gold stocks go higher. There is also a hammer for yesterday's trading. There are hammers all over the place, so there should be some good long positions, maybe.
When I look at the Russell 2000, the pattern is down right bearish.
You will notice the pivot points in the chart below. Remember a pivot point with my forecast model can mean a break down or break out as well.

So whether you are trading the HUI or the Russell 2000, the DOW, S&P 500, Wiltshire 5000, the FTSE.......
when people decide to sell all stocks go down.

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