๐ค No Hibernation...11th October 2022
๐ผ Daily Technical Picture ๐
...for the Bears as equity prices continue to fall in an orderly manner. The NASDAQ closing on a fresh new low, S&P500 not far behind. That being said, we did see prices reverse aggressively when the S&P500 made a new daily closing low on 30th Sep, so there's that possibility once again.
โค Across in Europe, the indices couldn't hold large gains after gapping down lower. I added a small short position in STOXX50 as prices may play catch-up and go back to test the yearly low.
โค I increased my short exposure to -80%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
โค Conclusion: Prices look to continue their march lower. The worrying sign is that it is very orderly and shows no capitulation. That's when a more permanent bottom is usually found.
...for the Bears as equity prices continue to fall in an orderly manner. The NASDAQ closing on a fresh new low, S&P500 not far behind. That being said, we did see prices reverse aggressively when the S&P500 made a new daily closing low on 30th Sep, so there's that possibility once again.
โค Across in Europe, the indices couldn't hold large gains after gapping down lower. I added a small short position in STOXX50 as prices may play catch-up and go back to test the yearly low.
โค I increased my short exposure to -80%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
โค Conclusion: Prices look to continue their march lower. The worrying sign is that it is very orderly and shows no capitulation. That's when a more permanent bottom is usually found.
๐ eToro Popular Investor ๐ฐ
โ Copy My Trades @ eToro, etoro.com/people/mrstocky
โ Verified Track Record ๐
Not Investment Advice
โ Copy My Trades @ eToro, etoro.com/people/mrstocky
โ Verified Track Record ๐
Not Investment Advice
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