The market gapped up earlier in the morning today and came close to the 2011 level I mentioned yesterday before going back below 2100 and closing barely above the Trend Average. A triangle pattern looks to be in play and there should be a break out as soon as this week. There's also a good potential for an Inverse Head and Shoulders that targets 2148 and we'll see if there's enough left in the tank for bulls to start a rally as soon as tomorrow. As it is, I rather be on the defensive given the lower highs and the breach of the lows last week so I'm holding on to my VXX until there's a decisive bullish move.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish
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