HUI (Amex Gold Bug Index) July 2017


#1

Time to start a new thread.

Link to previous HUI thread in March 2017.


#2

GDX Daily

A bit cluttered, the point is GDX is backtesting the 40 wk VTL. Stuck in a descending triangle on the daily/weekly.
Hurst would expected this to resolve to the downside.
Following for possible short entry.

Anyone have any other thoughts?

Bryan


#3

Should be hitting a 40day peak soonish.


#4

GDX appears to have put in a 2.5 wk low here 7/24. The high of that 2.5 week cycle has now been exceeded. Will continue to observe and monitor. My bias is short but no price action to confirm yet.


#5


#6

@alainv It looks like the 40 day trough that is due the end of Aug/early Sep. is looking pretty right-translated. What puzzles me is the fact that it hasn’t made a higher high than the last 40-day cycle. How does your envelope looking like these days? If you’d be so kind to share…


#7

It looks pretty much the same !


#8

Anyway using the Envelope system you can draw a VTL linking the last three tops (or touching) of the blue Envelope (36 TD)

This VTL has been broken - then trend is moderately UP

If you consider that the trend of the 128 TD Envelope (ocre) will stay the same - roughly horizontal and if you prolonge the blue Enveloppe you see that price reach the top of the UP FLD prevision area (in red)

not carved in stone but interesting to follow


#9

The break of the VTL is what everyone’s been talking about. A break of the marquee Feb. peak would tell me that an intermediate term bull market might be starting. Your envelope provides a better clarity of direction. Maybe it’s time to nibble at the miners in this coming 40-day trough. Thanks for sharing.


#10

We appear to be approaching a right-shifted 40 wk (53) cycle peak.