Asset Management & Market Research

While Putin flexes muscles - Russia falls !

It is clear by the many epic photos that Russia President Vladimir Putin likes to flex his muscles.  Though while he flexes his muscles in Crimea he is hurting Russian stocks as evidenced below by the technical breakdown in the Market Vectors Russia ETF (RSX).

As illustrated below, a bearish triangular range was violated on the RSX on heavy volume to the downside.  The projected target as illustrated (purple lines) suggest things could continue to get ugly for Russian stocks.

So while it’s fun to show off for the girls and the camera’s it certainly isn’t profitable Mr. P. !

RSX



Author: Kevin Lane

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