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The $HGX bounced off its 200DMA today. The December high was a 61.8% retracement of the decline between the July high and the October low. Usually, that is bullish but the price last week fell below the 50% retracement level and today's low just about touched the 31.8% retracement level, which is bearish.
Support is the 200DMA and just below that (509) is the 50DMA. Should both MAs get taken out on a closing basis, watch for a retest of the October low.
BTW, NVR made a heck of an upside turnaround today. The extremely low ADX (10.61) and the daily stochastic, which has bottomed out and turned higher, suggest a nice move higher provided the market doesn't crap the bed.
Support is the 200DMA and just below that (509) is the 50DMA. Should both MAs get taken out on a closing basis, watch for a retest of the October low.
BTW, NVR made a heck of an upside turnaround today. The extremely low ADX (10.61) and the daily stochastic, which has bottomed out and turned higher, suggest a nice move higher provided the market doesn't crap the bed.