Well, on the fourth push the HUI daily finally pushed well above the BB midlines. However, the BBs are converging, which more indicate the end of the last trend, not the beginning of a new one. Price could still porpoise, even hitting the upper BB first, and the BBs could add one more bead to the string, or frog inside the snake, on the continuing way down. I'd still like to see a good, tight BB pinch to signal a real trend change. Hopefully, the BBs will continue to pinch, and price will hit the upper BB and stick there as the BBs start to expand again. Holding dry powder until then, won't try to trade the whipsaws. Chart:
tinyurl.com
Again, less upturn apparent on the weekly:
tinyurl.com
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