New Year, Same Same...4th January 2023
🖼 Daily Technical Picture 📈
➤ First day of US trading in the New Year displayed the same volatility as we have come to enjoy/get used to. A firm positive start filled with promise faltered to finish in the red. I hate to repeat it, but once again the support level held.
➤ A break up or down from this small consolidation/sideways market since mid-December should have some legs. The Bearish scenario should be favoured given the lack of bounce to the upside after the recent sell-off in recent weeks.
➤ Value/Mega-cap stocks like the DJIA index hover above the 200-day moving average. Still displaying strength relative to growth/smaller-cap stocks.
➤ I currently hold no positions.
➤ Conclusion: No let up on volatility. Opportunities are coming.
➤ First day of US trading in the New Year displayed the same volatility as we have come to enjoy/get used to. A firm positive start filled with promise faltered to finish in the red. I hate to repeat it, but once again the support level held.
➤ A break up or down from this small consolidation/sideways market since mid-December should have some legs. The Bearish scenario should be favoured given the lack of bounce to the upside after the recent sell-off in recent weeks.
➤ Value/Mega-cap stocks like the DJIA index hover above the 200-day moving average. Still displaying strength relative to growth/smaller-cap stocks.
➤ I currently hold no positions.
➤ Conclusion: No let up on volatility. Opportunities are coming.
🏆 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
כתב ויתור
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