Monday, December 23, 2013

Market Update

I've spent a considerable amount of time trying to sign up for insurance today so I am not very happy with Obama right now. Unfortunately, I am one of those people who are a "small percentage" in the President's own words that had health insurance cancelled due to his stupid law and now I have to pay twice as much of what I was previously paying. But the main problem is I can't even sign up! I've been clicking on the submit button over and over since this morning to enroll and the website keeps timing out. And if I don't enroll by midnight then me and my family won't have insurance come Jan 1st and will have to wait until February. Ironic how "universal care" is making me and my family go uninsured. I don't understand why couldn't he just keep his promise on not messing with people's insurance.

Anyway, enough of my rant.. the market continued its bull run today and made another all time high that I think could be the top of the 3rd wave. So the market might correct and test the 1818 level before forming another base to rally from and go for 1850. The TA is not even in the 1800's and I doubt it will be tested until January but nonetheless I got a signal to buy VXX for the minor correction so we'll see how that goes.

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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