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[Tor]

The rally from mid-April’s 392.57 low slightly exceeded a 471.54 target, but we should be less than thrilled because the high itself fell just a smidgen short of an important peak at 475.32 recorded back in January 11. While that is not bearish per se, it does suggest that any attempt to challenge the watershed high at 516.16 recorded in December is likely to be a labored affair. If the HUI were fixing to blow this resistance to Kingdom come, it would have displayed its feistiness by kicking 475.32’s butt when it had the chance. It’ll have a second chance at 469.72, a midpoint resistance tied to a ‘D’ target at 576.19. If HUI can bulldoze the resistance and close above it for two consecutive days, I’d rate it an even-money bet to take on December’s key high at 516.16 successfully and without too much bloodshed.