🖼 Daily Technical Picture 📈
➤ Prices continue to dance around the key support/resistance levels. This time falling under my key level.
➤ It's not the only index doing this dance. STOXX50 is sitting right under the short-term resistance at 3484. On the other hand, DAX is hovering above the 12670 support. This also holds true for DJIA and NASDAQ, the former below and the latter above their respective key levels. This is not sustainable. They will need to decide on which side of the fence they belong.
➤ I'm now leaning towards the Bear case. I'm not acting on it right now as my short-term Index Trading Strategy hasn't sent a Short signal. However, my medium-term equity signal is threatening to flash RED and I've entered a Short trade for my long/short individual stock trading strategy. Timing is never perfect on these but the overall bias is there.
➤ I remain long with +20% exposure but will change drastically soon. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: The dance continues in these choppy and volatile conditions. Be agile and don't get trapped sitting on the wrong side of the fence.
➤ Prices continue to dance around the key support/resistance levels. This time falling under my key level.
➤ It's not the only index doing this dance. STOXX50 is sitting right under the short-term resistance at 3484. On the other hand, DAX is hovering above the 12670 support. This also holds true for DJIA and NASDAQ, the former below and the latter above their respective key levels. This is not sustainable. They will need to decide on which side of the fence they belong.
➤ I'm now leaning towards the Bear case. I'm not acting on it right now as my short-term Index Trading Strategy hasn't sent a Short signal. However, my medium-term equity signal is threatening to flash RED and I've entered a Short trade for my long/short individual stock trading strategy. Timing is never perfect on these but the overall bias is there.
➤ I remain long with +20% exposure but will change drastically soon. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: The dance continues in these choppy and volatile conditions. Be agile and don't get trapped sitting on the wrong side of the fence.
🏆 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