Sunday, March 2, 2014

A Buying Opportunity Is Coming Up

NAZ, SPX and RUT closed at all time or multiyear highs on Thursday or Friday.  The rise in February was broad based with small and mid caps leading.  On Friday, DJI made its first attempt to break through its Primary Downtrend Line (thick black line in figure below) before a sell off due to the news out of Ukraine.

The situation in Ukraine is serious because Russians will not back down.   I believe we are in for a few days of very choppy markets.  My plan is to do my fourth and final buy into a major panic which could send SPX to back test its 50 and 20 D-SMA around 1825.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.