They also serve who Stand and Wait

Last week's post on Capital Preservation is still in place.  I am still not ready to get back in the water.

As posted last week, I will only get in after I see an end to that nasty Head and Shoulders pattern. Looks to me this pattern is working for bears. But we remain patient and then try to get in.

The first neck line is now broken as you can see from the above chart.