Not a good week for me. The Crimean crisis remains the dark cloud over the market. It has the market on edge. It is creating uncertainty as I mentioned in my weekend review on March 2nd. Not a friendly trading environment at all. Hopefully the referendum on Sunday to decide if Crimea becomes part of Russia or remains Ukrainian will calm things down. So far the tension between Russia and the West seems to be escalating as we see the strongest confrontation unfolding with both sides remaining defiant. I'm surprise the market has been this resilient given all the negative news that has been thrown at it this week (starting with China and ending with Russia) and last. We haven't seen any wild action, at least not yet. Expect wild action next week (especially on Monday). You better not be on the wrong side because it will be painful. I believe the market will go up. Currently at 1841, I'm expecting S&P500 to go to 1970 soon.
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