๐ Look Out Below, 7th October 2022
๐ผ Daily Technical Picture ๐
โค There was a lack of follow-through by the Bulls as prices retreated Thursday, giving up yesterday's gains. This may just be a pause in proceedings but with VIX moving into my panic zone once more, I'm inclined to take a bearish stance.
โค If I'm right, I'm looking for prices to test the yearly low with a potential higher low or a more bearish break below as outlined by the chart. There should be a subsequent bounce but that is getting way ahead of myself. My crystal ball is extremely short-sighted. ๐ฎ
โค If I'm wrong, I will take a loss and most likely reverse the position to take a bullish stance.
โค I opened short positions across US equities SPX500, NSDQ100 and DJ30. I am watching European equities closely to add further short exposure. My current exposure is -120%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
โค Conclusion: US employment numbers out Friday maybe the deciding factor. ๐๐
โค There was a lack of follow-through by the Bulls as prices retreated Thursday, giving up yesterday's gains. This may just be a pause in proceedings but with VIX moving into my panic zone once more, I'm inclined to take a bearish stance.
โค If I'm right, I'm looking for prices to test the yearly low with a potential higher low or a more bearish break below as outlined by the chart. There should be a subsequent bounce but that is getting way ahead of myself. My crystal ball is extremely short-sighted. ๐ฎ
โค If I'm wrong, I will take a loss and most likely reverse the position to take a bullish stance.
โค I opened short positions across US equities SPX500, NSDQ100 and DJ30. I am watching European equities closely to add further short exposure. My current exposure is -120%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
โค Conclusion: US employment numbers out Friday maybe the deciding factor. ๐๐
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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