I have not been posting much because I wanted to see a confirmed reversal before getting overly bearish. We have that now so I will follow what is happening and update as necessary.
The S&P 500 has confirmed a reversal. I expect this to see a continuation with the Crimean referendum ahead on the weekend. I think we will see potentially at least 1800 on the SPX by the close on Friday in the U.S. If the referendum passes over the weekend then come Monday things could get very ugly indeed. Have to see how it goes.
Click on chart to enlarge
S&P500 daily chart
Below: The VIX daily is above 15.0 which is confirmed bearish for stocks
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