A Short Pause, 28 Feb 2023
🖼 Daily Technical Picture 📈
➤ As per recent weeks equity prices opened with optimism and finished with a whimper. Today was no exception. Price filled the large gap left open on Friday trade but made no further headway.
➤ S&P500 equity index is still dancing around the 400 level and the 200-day moving average. I expect this to continue but only for a few days. Price should break away from this area very soon.
➤ Price could move upwards to fill in the two smaller price gaps just above but I think more likely it may drop. A good sized drop will give me an opportunity to re-enter with shorts. A move higher may mean staying patient for a trade.
➤ There's plenty of action in other asset classes. See above links for USD and NATGAS price action.
➤ Conclusion: Last day of Feb, time flies by so fast when you're having fun.
➤ As per recent weeks equity prices opened with optimism and finished with a whimper. Today was no exception. Price filled the large gap left open on Friday trade but made no further headway.
➤ S&P500 equity index is still dancing around the 400 level and the 200-day moving average. I expect this to continue but only for a few days. Price should break away from this area very soon.
➤ Price could move upwards to fill in the two smaller price gaps just above but I think more likely it may drop. A good sized drop will give me an opportunity to re-enter with shorts. A move higher may mean staying patient for a trade.
➤ There's plenty of action in other asset classes. See above links for USD and NATGAS price action.
➤ Conclusion: Last day of Feb, time flies by so fast when you're having fun.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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