"It's looking an awful lot like September"
Doesn't quite have the ring of the song, but the HUI rang some bells today with its break down. Slicing through the 20 moving average and a cluster of lows in that area it fell to lower bar chart support at 138, a set of highs it passed in December.
Back to our analogy with September, notice the chart formation….rollover after distribution, only bigger this time. DMI and PPO have very similar looks.
If it's not too much different this time, I'd say we're looking at about 128 as a target.
stockcharts.com[h,a]dbcaynay[dc][pc50!c200!c20!c13!f][iut!Le12,26,9!Ll14!Lp14,3,3!Lya7,14,28!Ld20!Lya7,14,28]&pref=G |
