"Beauty is In the Eye of the Beholder" ..English Proverb
Tonight I want to show you a long term monthly chart for the HUI. It seems
there is alot of disbelief that if a H&S pattern is too big that it some
how makes it invalid or not to be trusted. I'm curious how that rumor ever
got started? Nothing could be further from the truth IMHO.
Below is a monthly chart of the HUI that shows a massive 6 year inverse, complex
H&S base, that launched the bull market for the precious metals stocks
back in 2001. There is a certain beauty that 6 year H&S base has that most
wouldn't recognize. If you look on each side of the Head you will see two chart
patterns, one large blue formation and one small red formation. They are positioned
just the opposite on each side of the head. This doesn't change the time component
as the left and right shoulders measures out very close to each other. At the
very top of the chart you can see what that big 6 year H&S based measured
to. As you can see it measured up to 690 which was just a tad higher than the
actual all time high.
The Chartology of the entire chart is one of beauty and symmetry which some
will see and others won't. They say beauty is in the eye of the beholder. What
do you see?
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