The projection has been that HUI bottomed vs. SPX per this weekly chart. It made a low, tested it, turned up hard and then earned the expected pullback.
Ah, but this is the gold stock sector where nothing ever seems easy. The daily chart shows a higher low and that must hold or else the gold stock sector will likely be cooked for a while. Thus far, as strange as it is to say, it’s normal to the bottoming scenario. Much lower though, and it would go abnormal and I will have been wrong to favor that it bottomed.