Thursday, January 16, 2014


The market started its correction as anticipated but not sure if it is a W4 or a W2 yet. The market got somewhat close to the TA but it never went below 1840 so there could an ABC move in the works with a C wave coming tomorrow or the correction could be over already. We'll have to wait and see how the coming bullish wave develops. I am however playing it safe so I sold my VXX today for some profit and will wait for a sub 40 price (or something close to it) before getting back in. I just need my longs to do their job!

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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