HUI June 8, 2017 which way is which

June 8, 2017 HUI Which way is which

The HUI closed down 3.60in today closing at 198.87. GLD closed down by $0.80 at 121.65. SLV closed down by $0.16 at 16.49.

So which way is which.? With regards to the HUI Fast stoch barely overbought territory slow still rising so really no definite direction although I see a bias to the downside. Inter-day tomorrow I will watch for any positive action above 199.51, if its taken out that then some further upside. However if the rally stops short of 201 then some problems for the bulls. For the bears its a little easier on the daily chart 192.84 is the number to watch if this gives way further downside until late June early July.

Both GLD and SLV look bad, I suspect more downside soon to come. Friday most likely we will see an inside bar on the HUI, GLD and SLV as this battle rages on. These are just my thoughts.