HUI - Amex Gold Bugs Index Elliott Wave Count

Here are some HUI - Amex Gold Bugs Index charts. The charts are annotated with Elliot wave's counts, Fibonacci support lines, moving averages, trend lines and other technical indicators. To put it simply: It is my opinion that the HUI is close or already had bottomed. Like Gold I think that the HUI will go much higher, however I think that at some point and under some circumstances the price of gold and / or the price of silver will outperform the HUI index.

HUI logarithmic weekly chart, bear market bottom to date - click on the chart below to enlarge:


















HUI linear weekly chart, bear market bottom to date - click on the chart below to enlarge:


















HUI daily chart - one year























HUI daily chart - three month

• For Elliott Wave analysis I highly recommend the book: Elliott wave principle.
• See previous HUI Posts
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