TrendX High....3.10.14

We're back up to the SPY TrendX upper resistance line (side right panel) and the market is clearly in an ambivalent mood.  It's now become clear that the Ukraine situation is no where near a "final resolution" and Putin is likely to escalate Russian provocation just to see how far that ball will bounce.  The West is meanwhile powerless to provide any negative reinforcement for the incursions and is left to simply worry over the problem.  The effect on the markets has so far been minimal and despite the constant headlines there's little to suggest a panic is forthcoming.

Earnings are behind us for a while and the economy is chugging along nicely.
For now its wait and see what the next big thing will be.