mrstockyetoro

πŸ”ͺ Chop Chop... 22nd November 2022

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

➀ The sideways movement continues in equities. A Bullish bias still applies although my signals have weakened in its conviction.

➀ Choppy conditions are not ideal for my Strategy. Especially the kind where there is a tight range with high volatility (large up and down swings). This is because a large reversal against my entry will usually force me to exit, resulting in a bigger than average loss. If repeated multiple times, it can cause a pro-longed drawdown in returns.

➀ So far the choppy conditions experienced has been on relatively low volatility . It's not ideal but also not the worst. The good news is that these conditions tend to not last long. Markets will "snap" out of it soon to trend in one direction.

➀ I have reduced my long exposure to +42%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.

➀ Conclusion: I have a feeling markets are more interested in watching the Football World Cup right now. πŸ†

πŸ† eToro Popular Investor πŸ’°

βœ… Copy My Trades @ eToro, https://www.etoro.com/people/mrstocky

βœ… Verified Track Record πŸ“ˆ

Not Investment Advice
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.