🖼 Daily Technical Picture 📈
➤ Equity prices were all over the place on Tuesday trade. Nasdaq, S&P500 down yet European Indices and Russell 2000 were up.
➤ This is the sort of action you should expect during a consolidation phase. I'm not sure if this will end with prices moving higher or a break of trend and moving lower. We should know shortly, this consolidation phase will not last very long.
➤ My signals are leaning towards the Bearish scenario. However, these are lower conviction trades that can be switched quickly. I think the test of the support level at 390/3900 SPY/SPX will provide some insights (if prices get there).
➤ I remain with -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I'll be on holidays starting today but its business as usual for my Trading. I will return 8th Dec. I'll take a break from my writings but keep you updated as necessary.
➤ Equity prices were all over the place on Tuesday trade. Nasdaq, S&P500 down yet European Indices and Russell 2000 were up.
➤ This is the sort of action you should expect during a consolidation phase. I'm not sure if this will end with prices moving higher or a break of trend and moving lower. We should know shortly, this consolidation phase will not last very long.
➤ My signals are leaning towards the Bearish scenario. However, these are lower conviction trades that can be switched quickly. I think the test of the support level at 390/3900 SPY/SPX will provide some insights (if prices get there).
➤ I remain with -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I'll be on holidays starting today but its business as usual for my Trading. I will return 8th Dec. I'll take a break from my writings but keep you updated as necessary.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice