Thursday Update

My system declined to +1100 and the sell signal is still on. Today is the 29th trading day in a row that we are above +1000 and that is as an astounding streak that may be about to end. The $HGX bounced exactly at its 50 day SMA. If it were to continue its bounce, I would expect it to be halted around its 200 day SMA before a move back to test today's low. This bullish scenario is leading towards the 50 day/200 day cross and for that to happen, it will have to trade back above the 200 day at some point. A big decline tomorrow instead will likely end the bull scenario. This decision in the market should occur tomorrow or Monday at the latest.