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[SilentOne]

The breakout of the HUI above 242 confirms the next leg up on the HUI. We are now in wave "C" or 3 up in David Petch's wave "X" as depicted below. It is always possible that we put in 5 waves up from the May lows, but for now I will defer to David Petch's count.



The obvious target for this run is the measured move from the HUI flag (formed by wave B or 2). HUI 300 - 310 is achievable. We'll see once we get there.

Here is Dsquare's count which I concur with.



My advice is to hold onto your miners as tightly as you can and buy any weakness if you want to take positions. There are excellent setups in many miners.

Good trading.

cheers,

john

[SilentOne]

Everyone knows I like ewave a lot. Great tool. Now for the naysayers, there are good wavers and not so good wavers. I have put my vote in for David Petch. He is excellent. Now here is an example of a not so good waver.



Gold Locus or whatever has been wrong about this count for weeks/months. Been wrong, and will continue to be wrong until we break to new highs. Then they will have to change their mind about things.

Then again EWI is no better. In fact, ironically the supposed authority on Elliott Wave has probably one of the worst waving records on gold/silver the USD and stock markets in the last 3 years.

cheers,

john