For months we have been having a little fun with some bears who were managing the final “plunge” using log charts. Here’s the weekly log showing the breakdown that tantalized them. Of course there are no more bears anymore. They are literally playing the breakout of the channel. It’s all momentum oriented “crap” as I noted in NFTRH 383.
“HUI never did break down from the channel just as it has not broken up from it, presently” says the linear scale chart that provides a more literal view.
The key is and has been the break above the weekly EMA 55, which we had used as a limiter in the bear market. That is good and the fundamentals are good too. But please don’t give me this ‘momo breakout’ garbage. HUI is at the channel top now.
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