Gold bug channel

INDEX:HUI   Gold Bugs Index
455 36 10
This gold             bug index really has a silver             mirror attached to it at 146.8
The 311.74% increase from 2001 to July 2002 can be projected almost identically by using reflection which resulted in same % of price target hitting around 600 before it collapsed. If the current narrow downtrend channel is valid and price broke below 146.8, the next cluster of support would most probably be around 125-130.

So HUI closed above previous swing high - hasn't happened in a long time. Paradigm change? Or perhaps the traders just overreacted to this week's dollar volatility?
jangseohee JohnKeverich
Hui has been accumulation phase for past few months as can be seen from my channel bottom, i guess more upside after slight retracement
JohnKeverich jangseohee
The interesting thing is gold and silver have yet to exceed October highs. This makes me reluctant to think that the metals have bottomed.

If they start consolidating at these levels, I'll start shorting.
jangseohee JohnKeverich
JohnKeverich jangseohee
I'm looking to buy DUST around 7-7.50
+1 Reply
Need inflation expectation to rise.... Judging by TIP, it is improving but not confirming yet.

+1 Reply
jangseohee CosmicDust
i have neglected this for quite sometime
there is another way to measure inflation/deflation

and latest update

+1 Reply
IvanLabrie jangseohee
Nice analysis.
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