Last week I said a correction was high probable because of Demark Sell Signal on the daily timeframe. Indexes didn’t fall but didn’t rise as well. Now the sell signal got weaker because markets are in strong uptrend and the sell could just means a “temporary pause in the uptrend”. Last Friday surging in volumes aren’t significant because it was options expiration day. On the other side we had some distributions days over major indexes last week, so the uptrend is showing some weakness.
If last week I thought a correction had 80% prob to materialize, now it’s a 50-50 situation.
Prefer waiting more signals before add positions (long or shorts). I closed the attempt of shorting the ndx this week, basically at commission cost. In the doubt, I don't trade.
I continue to hold the Russia ETF that gives me satisfaction.
And hold Snam Rete Gas as well. This latter returned to my entry level, but on Friday dropped 2.3% with high volumes…on Monday I’ll decide if exit if selling pressure continues.
Below the Russia Etf. My entry level is 29.90. At the moment I continue to hold it few days. If it rise and makes a break on Mon-Tue I continue to hold until at least 35. Otherwise I could take profit if stay flat or drop. Let’s see how it evolves