Trapped! 29th Sep 2022
🖼 Daily Technical Picture 📈
➤ Another hugely volatile day. Pre-market conditions were looking disastrous as US indices were south of 1% and European indices were down over 2%. A complete turnaround occurred as bond yields reversed lower. Bond yields have become unhinged and forced central banks to step in to try and control the situation. We should expect such volatility at market extremes but it doesn't make it any easier to sit through.
➤ The bounce off the support level meant prices moved up to the previous support level now acting as resistance. Price is currently trapped between these levels. This may be temporary as prices seem to want to bounce more to least close the last major price gap.
➤ I added a long NASDAQ position. It is acting stronger than most indices having not broken the yearly low. I still hold positions in DAX and EUSTX50 . My exposure is +60%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Looking for further bounce to relieve extreme oversold conditions.
➤ Another hugely volatile day. Pre-market conditions were looking disastrous as US indices were south of 1% and European indices were down over 2%. A complete turnaround occurred as bond yields reversed lower. Bond yields have become unhinged and forced central banks to step in to try and control the situation. We should expect such volatility at market extremes but it doesn't make it any easier to sit through.
➤ The bounce off the support level meant prices moved up to the previous support level now acting as resistance. Price is currently trapped between these levels. This may be temporary as prices seem to want to bounce more to least close the last major price gap.
➤ I added a long NASDAQ position. It is acting stronger than most indices having not broken the yearly low. I still hold positions in DAX and EUSTX50 . My exposure is +60%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Looking for further bounce to relieve extreme oversold conditions.
🏆 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
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