Marching Higher? 6 Mar 2023

🖼 Daily Technical Picture 📈

➤ My current view of equity markets is based on today's chart colour scheme. Green and a bit of grey.

➤ With a strong rebound higher in markets over the last couple of trading days, I think things look pretty Bullish. The trend from the October 2022 bottom is Bullish. It is a series of higher highs and higher lows. The classical definition of an uptrend.

➤ It looks like the Sellers have dried up. All the selling has been absorbed by the Buyers. Everything pretty much adds up to the Bullish tone.

➤ The only grey is the price structure that I look at (my secret sauce) remains not so clear. There is not yet a trading signal for a BUY and there is still a reasonable possibility to go SHORT.

➤ How prices evolve this week will almost certaintly settle the case and we should see a trade soon enough. 🤞

➤ Conclusion: Looks can be decieving. 🥸