Loading ...BABY HUI
MONTHLY…POSTED JAN 22
Todays Daily
Flash back from Rambus
(February 22 2013)
The other pattern is the massive H&S top. Its good that few believe this pattern is authentic because everyone can’t exit at the same time. The lower it goes the more people will begin to understand what is actually happening but it will be too late to take action and they will most likely ride the whole thing down or sell into any counter trend rally that will occur thus putting a ceiling above the price action.
Look at this Monthly …Wow
Your monthly $HUI chart is impressive. (I had neglected to draw the neckline extension on my own monthly chart) Nicely presented, Fully, thanks.
Something that popped out at me from your chart… notice how the $HUI from the 2008 panic low shot straight up to the tip of the left shoulder of the humongous SHS top. In today’s SHS top $HUI (again) shot straight up from a panic low (March 2020 Covid panic low) to the tip of the left shoulder. What I am saying is that today’s SHS top looks very much like a fractal of the 2011 top. There was big volume distribution at both tops, however the MACD in 2020 was was even more overbought than in 2011. At the 2013 SHS break down very few believed the SHS top predicted the end of the bull move. Same today, the prevailing fundamental outlook is bullish.
One more point. From the 2011 SHS grand top and from the 2016 SHS baby bull top the miners took their time finding a bottom. A number of years in fact. This time is different? I hope so, but am not holding my breath.
All Good Striking Observations Unfortunately Foxy
another 15 % drop to the 50 ma and load up the wagon time
An Optimist 🙂
Fully, one of your best posts of all time.