HUI: 5 Monthly Waves up Complete?
Started by
Guest_wave_*
, Nov 03 2003 12:13 PM
5 replies to this topic
#1 Guest_wave_*
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
#2
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
Fib
http://stockcharts.c...11144854,Y].gif
http://stockcharts.c...20019226,Y].gif
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#3
Posted 03 November 2003 - 02:25 PM
How 'bout this is c of 4 and we have one more move up.
blustar
#4 Guest_wave_*
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
#5
Posted 12 November 2003 - 04:33 PM
And does today change your count wave?
#6
Posted 12 November 2003 - 04:46 PM
I think wave 5 has more fuel in it.... maybe up to the top blue channel: