Sunday, December 1, 2013

Market Update

I got sidetracked by the holidays so didn't have the chance to post. But basically, the rectangle move was a micro w4 consolidation so I am still waiting for the market to start a stronger correction. The TA is almost at 1800, which is almost unimaginable if you think about where the market was last year but at the same time this was been a Long Term W3 all along so in that sense it is no surprise and next year we'll probably see SP2000+ and bears will be pulling their hair out. My VXX is profitable so I will probably set my stop to break even and continue riding it if the market finds a top.

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors. 

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