Tuesday, November 26, 2013

Market Update

Looks like the correction yesterday was a micro W4 after a micro standalone W3 so it looks like the market is done after putting another marginal all time high before reversing in the last few minutes. After such bullish run in the last month I would think traders would be locking in some profits before Thanksgiving so we'll see. My VXX position is hanging in there so hopefully it will start going up soon, it'll be nice to have some VXX money for Christmas!

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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