A quick one for traders and investors, alike. We talked about the potential for a bounce on HUI from the noted trend line in an update yesterday… “if Huey is going to bounce, the gap fill would be the place to do it because there is also a trend line there.”
Well, here is the bounce. A reminder that it is only a bounce as long as it is below the SMA 50 (currently 253 and declining). If it gets above the 250 area we can start talking about something more. As long as Huey is below the SMA 50 I am going to keep the 200 area as the ‘best’ target beyond the very short-term.
I would take an educated guess that this has something to do with Yellen’s Jawbone.