Russian President Putin has ordered troops into Ukraine. After invading … pardon me … “annexing” Crimea in 2014 and holding it. Russia will now take control of the “separatist-controlled” area as seen on the map below.
Somehow it’s not been called an invasion.
But the tensions are only going higher. And the market isn’t happy.
Futures are trading deep in the red this morning.
Markets are looking a bit oversold. But with a full-scale invasion, there’s room to move lower. This is a news-driven market.
Bonds are on the rise, Gold hit a 6-month high, and Oil is nearing the $100 market.
Bitcoin is showing weakness after failing to hold the $40K level.
Only five trading days left in February.
The past few years have seen added weakness as the second month of the year draws to a close.
I’m staying risk off and waiting for better opportunities to appear.
*GRIN has support at $21
HOOK has support at $2.20
DWAC is on watch
ISPO is on watch
FTK has support at $1.25
KPTI is on watch
COOP has resistance at $52
SFL has resistance at $10