Monday, March 31, 2014

Market Update

I had a busy day today and will keep this update short. Basically, the market is again testing the 1874-83 resistance level and my guess is that it will break sooner than later. The market is challenging the ST bearish trend and if the market continues going up in the next session it will probably turn Bullish.. so watch those shorts.

Short Term Trend = Bearish Trend being challenged
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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