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HUI: 5 Monthly Waves up Complete?

Started by Guest_wave_* , Nov 03 2003 12:13 PM

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5 replies to this topic

#1 Guest_wave_*

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Posted 03 November 2003 - 12:13 PM

For the first time I can now at least suggest the HUI has completed the first FIVE wave rally sequence from THE lows in 2000. If correct, we could now see at least a 38% retracement of that rally(151 area), and a 6-12 month correction. Let me stress that this is VERY BULLISH LONG TERM, but it could suggest a large correction is now possible. Let me stress there are other valid and more Bullish wave counts, but for the first time I can see the case for 5 up done basis daily-weekly-monthly charts. Mike Drakulich

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#2 fib_1618

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Posted 03 November 2003 - 02:09 PM

Chart of the HUI attached for further possible discussion, plus I added the XAU for comparison purposes.

Fib

http://stockcharts.c...11144854,Y].gif

http://stockcharts.c...20019226,Y].gif

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#3 blustar

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Posted 03 November 2003 - 02:25 PM

How 'bout this is c of 4 and we have one more move up. blustar

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#4 Guest_wave_*

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Posted 03 November 2003 - 02:49 PM

My take on the HUI is that it is "most likley" 5 up daily and weekly from the March lows for a 5th wave, and that the rally into the Jan. highs was a thrust out of a large contracting triangle and that was the top of the 3rd wave. As always there are other counts, given the technical divergences into last weeks high, a decent case can IMO be made for completion. Mike Drakulich