HUI – Gold Bugs Index (Last:430.19)

The 398.97 target of the pattern shown looks moderately compelling, but it would become even moreso if the now month-long descent takes a bounce from very near 420.67, the Hidden Pivot midpoint. The symmetry of this pattern implies a precipitous move down by Tuesday or Wednesday, and that would all but clinch an eventual move down to 398.97.  That target is about 7.25 percent below these levels.