🖼 Daily Technical Picture 📈
➤ A momentous day in markets, momentous to do downside that is. All the up momentum was snuffed out today. Prices in S&P500 have dropped back to the support level. As I previously mentioned, there were subtle hints of a drop. The big surprise is the degree of the drop we just experienced.
➤ The only good news is that prices have hit support levels. This could lead to a rebound of some kind. Also mentioned a few updates ago, this support level has never been a firm one. Prices have sliced through easily at times. IMO, this level may just hold.
➤ I reduced my short positions in SPX500 and DJIA to take some profit. I still hold DAX and EUSTX50 long positions. This meant I ended the day with my exposure at 0% (or neutral). I am hedged to a large degree. Profits or losses will stem from the degree that US markets out/under perform European markets. The maximum exposure is +/- 200%, the level of highest conviction.
➤ Conclusion: Downward bias worked in my favour. Both my portfolio and equity price levels are back to square one. I'm eager to see what happens next.
➤ A momentous day in markets, momentous to do downside that is. All the up momentum was snuffed out today. Prices in S&P500 have dropped back to the support level. As I previously mentioned, there were subtle hints of a drop. The big surprise is the degree of the drop we just experienced.
➤ The only good news is that prices have hit support levels. This could lead to a rebound of some kind. Also mentioned a few updates ago, this support level has never been a firm one. Prices have sliced through easily at times. IMO, this level may just hold.
➤ I reduced my short positions in SPX500 and DJIA to take some profit. I still hold DAX and EUSTX50 long positions. This meant I ended the day with my exposure at 0% (or neutral). I am hedged to a large degree. Profits or losses will stem from the degree that US markets out/under perform European markets. The maximum exposure is +/- 200%, the level of highest conviction.
➤ Conclusion: Downward bias worked in my favour. Both my portfolio and equity price levels are back to square one. I'm eager to see what happens next.
🏆 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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🏆 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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.