HUI – Gold Bugs Index (Last:551.07)

Gold Bugs Index (HUI) price chart with targetsFrom a Hidden Pivot perspective, yesterday’s thrust in this vehicle was more impressive than the one considered in today’s Silver Wheaton tout. Specifically, the Gold Bugs Index has already cleared an ‘internal’ peak — one of two that must be exceeded to create a robustly bullish impulse leg on the hourly chart. (The second lies at 568.69. See inset.) It’s a fly-or-die situation, since a failure to hurdle these peaks straightaway would leave HUI in technical Purgatory.