Earlier we noted 275 (a 50% Fib retrace of the rally) as the lower tolerance of the ‘normal’ zone on today’s pullback.  If HUI finishes the day as it currently stands, the pullback is a normal reaction or shakeout.  We could say that the 62% retrace at 270 is normal too, but how far is a trader going to stretch normal?  275 is my personal … Continue reading NFTRH Update 4.26.13, HUI 60 min. Current Status

Broad Market The Semiconductors and Small Caps are considered leaders and have led the rally out of the Fiscal Cliff hype from Q4, 2012.  Here is an update of their status. SOX reversed at the upper resistance of 445 and has now dropped below the lower resistance at around 437.  The RUT made short work of our would-have-been neckline (red) and shot higher this week.  … Continue reading NFTRH Update 4.26.13, SOX, RUT & Quick Precious Metals Recap

All is normal on the 60 minute chart.  The rally off of last week’s capitulation will continue to target the gaps at 300 and/or 320 if that remains the case. The 60 min. chart became over bought after the recent thrust.  The preferred limit to any pullback is the familiar 280 area, which we used to negate the bear flag potential.  There is a gap … Continue reading NFTRH Update 4.26.13, HUI 60 min. Chart