HUI Update

Today we are getting the backtest to the bottom rail on the diamond bar chart at 475. This is a very critical test taking place right now.

Below is the line chart of the H&S top formation. With the line chart the backtest can go as high as 485 or so. This is one of those critical points, when trading the markets, that one has to decided if this is the beginning of something or a stopping off point to lower prices. If you believe this is the beginning of a new bull move then you buy your favorite stocks or hold what you have. If you believe this is just a backtest to the breakout area then you either lighten up on your stock positions, go to cash or go short. There are many options right here and now to consider.