mrstockyetoro

A Mixed Bag, 30th November 2022

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
πŸ–Ό Daily Technical Picture πŸ“ˆ

➀ Equity prices were all over the place on Tuesday trade. Nasdaq, S&P500 down yet European Indices and Russell 2000 were up.

➀ 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.

➀ 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).

➀ I remain with -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.

➀ 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.

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