This evening I stumbled across this chart I posted back on 12/18/2015 when I suggested the bottom was in. Tonight my eyes immediately went back to the 2000 time frame, noting where prices pulled back to before regrouping and heading higher in a series of fits and starts. This chart is yet another line of evidence supporting that our little 10% pullback experienced over the past week may be as much of a retrace as we get. While guys like Gary Savage are focused on retracing to the mid-March consolidation zones around 170-180 on the HUI (or even the 200MA!), I think we should look left quite a bit further when seeking our consolidation zone to be keyed into. I didnt change this chart a bit except for adding a breakout/backtest pivot with directional arrows on the S/R level both at 2000 and now. The rest is unaltered from Dec. What is also really interesting is the clear reverse symmetry we got back in the 2000 timeframe and seeing how that again could be playing out here. To me it suggests that after the next big runup to most of our targets— maybe around HUI 400, we really should think about locking in profits because this pivot could likely get tested again over the next year or more frustrating many and causing lost fortunes. Just something to watch.


Perhaps a somewhat fresh take on the $USD helps support this view.