NFTRH Interim Update 4.8.13, HUI 10 min. Chart Review

Shoot first and ask questions later has worked best in managing risk on would-be gold stock bottoms.  One day, this tack will not work because one day the bottom will be a real one.

For now, the reason parameters are set is because given the bearish nature of the daily and weekly charts, I am still operating under the ‘manage risk first, speculate second’ directive because it is a bear market and a downtrend until it does something to prove otherwise.  Over sold status alone does not signal an end to a downtrend.

Technically, the HUI parameter of 325 (support) is for a daily close, so unless the index makes a recovery this afternoon, then it will have failed.

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HUI 10 min. chart, click for full size

There is nothing new in this update, but I thought an up-to-the-minute visual could lend perspective for people concerned with the short-term.  As noted in NFTRH 233, I am not pleased with the lack of follow through on this index to this point.