🖼 Daily Technical Picture 📈
➤ S&P500 tried and failed to break the 390 level. It was a thing of beauty if you were a neutral or positioned short. If you were long...🤬🤯🤦♀️
➤ All is not lost. The price did not break back into the consolidation (blue rectangle). The Bulls should still be favoured. It is usual for the price to retrace the break out to test that the break is true. You can refer to yesterday's note about a false break.
➤ I reduced my long position.
➤ Conclusion: The market is anxious. It wants to go up but it's unsure if it should.
➤ S&P500 tried and failed to break the 390 level. It was a thing of beauty if you were a neutral or positioned short. If you were long...🤬🤯🤦♀️
➤ All is not lost. The price did not break back into the consolidation (blue rectangle). The Bulls should still be favoured. It is usual for the price to retrace the break out to test that the break is true. You can refer to yesterday's note about a false break.
➤ I reduced my long position.
➤ Conclusion: The market is anxious. It wants to go up but it's unsure if it should.
🏆 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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🏆 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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.