NFTRH Update 5.16.13, HUI Weekly Chart

HUI weekly

This is no call to action.  This is just a view of the weekly chart from NFTRH 231.  Recall that the secular bull market Fib retrace level was 260, but we drew in a support line at 250.  Well, this morning HUI hit 250.

This could represent a bottom retest with a slightly lower low or the implications of the bear flag could drive HUI down to our next target in the low 200’s (secular bull market trend line).

The above is simply a picture for perspective.  I obviously do not know which event will play out.