hui gold bugs index, monthly chart

Gold stocks are not yet unique, but that’s coming

Gold stocks have been among the leaders of the Q1 rally, but are not yet unique It seems that all too often lately the gold mining sector is in tow with commodities in general and broad global stocks in its ups and downs. As a leader, but not THE leader of the rally that is fine for now as long as we’re still on the … Continue reading Gold stocks are not yet unique, but that’s coming

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NFTRH+; HUI technical parameters

A little micromanagement of the gold stock sector since a) it’s the favored sector for 2023 and b) it has tentatively taken out important resistance that we’ve identified as a potential gateway to a big bull run (HUI target: 500 +/-). HUI daily is clear enough, as it took out the SMA 200 on Tuesday and rammed through resistance at 240 yesterday. Key support – … Continue reading NFTRH+; HUI technical parameters

hui gold bugs index ratio to s&p 500 (HUI/SPX ratio)

Run Huey, run! HUI/SPX ratio continues apace

The ratio of the HUI Gold Bugs index to the broad S&P 500 has rallied for 4 months Hmm, what could could this be indicative of? Beuller? Answers, from the positive to the possibly interim mitigating, are all over my public articles, and in more strategic detail in NFTRH. But suffice it to say that plans are intact at this time. For “best of breed” … Continue reading Run Huey, run! HUI/SPX ratio continues apace

HUI rally hits short-term target

HUI Gold Bugs index has hit the bottom/bounce target at the daily SMA 200 Note: This post was begun on December 1, up to and including the two HUI charts below. The post was completed on December 2, after the November payrolls provided a good instigation for a broad market pullback, which included a ding to the miners from this logical resistance point. December 1 … Continue reading HUI rally hits short-term target

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NFTRH+; multi ways to view HUI

Nominal daily HUI is doing as projected, testing the resistance level that coincides with the SMA 200. The bad? It’s clear resistance. The good? It’s a gateway to a potential bull phase. Also Huey has come to this point and is not overbought because of the volatility on the way to this point. Here are Huey’s daily chart ratios to gold (GLD) and the S&P … Continue reading NFTRH+; multi ways to view HUI

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NFTRH+; this is the moment [w/ edit]

[edit] The analysis below, if it proves to be bullish, is about precious metals only, not broad markets. A subscriber questioned this and I’ll again note that the view for gold mining is counter-cyclical, which means a decelerating economy and declining inflation is the best environment for gold miners. Stocks may discount a recession at any time, but my view continues to be that there … Continue reading NFTRH+; this is the moment [w/ edit]

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NFTRH+; updating HUI’s progress per NFTRH 731

From NFTRH 731… HUI Gold Bugs index (daily) halted at a minor resistance area. The SMA 200 at 241 could be registered before a pullback comes about, but regardless key support to this rally is 205 to 209. Here is the chart that went with that blurb. 205 to 209 (with an allowance to the SMA 50, currently 197.65) is the key support. Continue reading NFTRH+; updating HUI’s progress per NFTRH 731

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NFTRH+; reviewing the HUI big picture [w/ edit]

NFTRH 731 included daily charts of gold, silver and HUI. For the sake of perspective, let’s again review the monthly situation on the HUI Gold Bugs index. Our operating thesis has been that a violently volatile bull market began in 2016 as evidenced by the drastic highs and lows since then that have not lost their series of higher highs and higher lows. That’s why … Continue reading NFTRH+; reviewing the HUI big picture [w/ edit]

Gold Stocks: Not quite yet

Macro changing in favor of the gold stock sector is and has been a process The process began with the leveling off of inflation’s momentum and continued as the global economy began to show signs of weakness (e.g. US manufacturing deceleration and developing supply chain slack among several other problem areas as exposed during the current earnings season). While the nominal sector (HUI or the … Continue reading Gold Stocks: Not quite yet

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NFTRH+; two HUI ratios, plus

A couple of HUI ratio charts of note. HUI/Gold (GLD) ratio continues to hold up, T-minus 1 week to FOMC. HUI/SPX ratio holds up as well. With increasing signs of economic deceleration the question is if/when the Fed will decide that the economic damage to come will outweigh inflation fears. I think the Fed is a manipulative and downright damaging enterprise, but I don’t think … Continue reading NFTRH+; two HUI ratios, plus

The gold stock road map

It’s a long and volatile road for the gold miners A daily chart snapshot of the current technical situation for the HUI Gold Bugs index shows a small Head & Shoulders pattern that formed in July-August as noted in this August 28th NFTRH premium update (now public) before it broke down. So we have Huey holding the neckline of an ugly little pattern today. What … Continue reading The gold stock road map