Friday, March 14, 2014

Market Update

The market made a slightly lower low today and the market is wedging so perhaps the bounce will come early next week to the levels I mentioned yesterday. The big question is how the markets will react to the referendum in Crimea over the weekend as it could serve as an excuse to rally or continue the sell off. My guess is that the EU and the US will give Russia a slap on the wrist and move on as they're risking a lot for something that in imo is not that big of a deal in the grand scheme of things.

I didn't do any trades today as I am waiting for upside to sell my ST longs or further continued downside to buy XIV. Hopefully we'll get opportunities early next week.

Have a great weekend!

Short Term Trend = Bearish
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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