Forget 'reality'. Forget 'the news'. Forget your personal sentiment and political leanings.
URE is going to 7.00+ shortly because the chart shows that is what is ACTUALLY happening in the markets. That is the only thing that matters. These chart patterns are clear and have well-documented histories of what follows. URE will eventually see double digits before the year is out but for right now a move to 7.00+ is a short term target.
Here is the chart...
In the bigger picture, URE has formed a very large inverse head and shoulders pattern that is about 8 months long. This pattern broke and pulled back via a large descending bullish wedge. That wedge broke out and THEN pulled back via a a consolidation triangle that broke out late last week. Today's move is nothing unusual.
URE, and the market in general, has legs and will run. Shorts will get reamed badly. If you want to see some inverse H&S patterns in action then keep an eye on LVS, MGM, RCL, and of course, URE. FAS is doing the same thing. DRYS is just now looking like a breakout.
Remember - 7.00+
This is NOT my wish or my hope. It is what the chart is 'telling' and HAS been 'telling' for the last 2+ months. It's just starting to actually happen now.
This is a longer term chart...nice cup and handle off a base with massive accumulation... 20 is a good long term target on news showing improved commercial markets..
Everyone makes good calls from time to time. But saying the price id pre-determined in the charts. That's just crazy talk. You have to be stupid, crazy, or some combination thereof to believe in that kinda BS. Reality doesn't work that way. Even if URE does hit $7 today, it won't be because of anything in Hammond's magical chart prediction.
Are you pay attention any volume about URE,
from Oct, 2008 to Dec 2008?
My question is "What is signal about restart new target". when you look the voulumn
Resession is over, URE will soar.