Our chart work from the weekend showed a possible bottom was in as Friday’s action picked up steam in the final hour of trading. We mentioned a lot of traders were going short and protecting their portfolios ahead of the weekend drama but we stepped on the gas pedal as we felt the suit-and-ties were once again overreacting.
We don’t mean to undermine the severity of the ongoing crisis between Russia and Ukraine but we mentioned Friday’s action showed some bullish signs.
We did nearly 50 charts this week for our Weekly Wrap and Daily newsletters and if you didn’t login to our Members Area for Monday, please do so as there are a number of possible option trades we are watching this week.
We have earnings trades, index trades, and a few current trades that we have high expectations for but we will continue to lock-in profits when we can as we expect the whipsaw action to continue. (continued…)