Loading ...BMR (Bear Market Rally ) Update
It may be of some value to go back and review the pieces on BMRs as I would think we are in one. I personally don’t think the bear is over. The charts point to a bit more higher for this one. Note the weekly stochastic. Also note we are in the 11th week
food for thought, the 35pt low in hui rallied by a factor of 2.3 to 80 for its first major high. A rally of that size would run to 335 ish. TQ, a poster at gold eagle forum did a very good essay in 2003 predicting a high of 260 off the 112 low. He was correct. Add in the hui:gold ratio at historic lows with 1280 gold and It really is intriguing. The neckline off the huge hs top is not that much further to go and so perhaps that will be the resting point. Just a wild azz guess….
Volume.
being that the neckline is at hui 400ish its interesting to note the first time hui hit 400 gold was 600, the second time after the 2008 crash hui hit 400, gold was 1000.
the third time its already 1280 so who knows. Just plain awfull.