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HUI chart: three boxes

Richard Russell
Dow Theory Letters
July 20, 2004

Extracted from the July 19, 2004 edition of Richard's Remarks

As for the gold stocks, the P&F chart below shows HUI, the "gold-bugs Index," breaking above its negative (red) trendline, and then backing off by three boxes.

To turn clearly bullish now requires HUI to reach the 204 box. At 204 HUI would show a "three-box reversal" which would be a happy occasion for all holders of gold shares.

Richard Russell
Dow Theory Letters

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