Russia Backs-off--Markets Surge

(2/15/22) Markets are optimistic as Russia backs away from conflict with Ukraine. Indices could jump as much as 1.5% if this Process continues...but...the NASDAQ is down 14% from its record high close. A rally today does not change the dynamic of a downward trend in the markets. A reflexive rally from January's lows tooks us back up to the 20-DMA, which has been good resistance for the NASDAQ (much of today's rally will come from already over-sold stocks; disrupter stocks in particular. Money flows have been coming back into the markets under the surface, helping to fuel this relief rally. The question today is whether markets can get above the 20-DMA--and if so, markets will be set up for a test of the 50-DMA. Even so, we are still in a negative market trend, short term, suggesting that until we work through signals, any rally we get should be sold-into. Use this to take profits and reposition risk.
Presented by RIA Advisors Chief Investment Strategist, Lance Roberts
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