Expect the Unexpected, 16 Mar 2023
🖼 Daily Technical Picture 📈
➤ Equities once again recovered the majority of losses to finish the day with positive momentum. If you read my post last week about the "Follow-Through" this is exactly what I meant. Despite the sharp drop and fear in the marketplace, there was no follow-through. Thus the signs point to a rebound higher and I'm now positioned that way with a moderate long position.
➤ As you know, I'm only talking about the very short-term i.e. a few days at the most. That is where I get most transparency and the reason why I operate in this space as a short-term Trader.
➤ The lower price gap in the S&P500 was immediately filled and now a higher gap has been left open. I'm hoping this will get filled in favour of my long position.
➤ Conclusion: With heightened volatility, you can throw a large amount of logic out of the door. Emotional responses are the main driver. Often this is no rational. Expect the unexpected.
NOTES: Tech continues to outperform. S&P500 has not made a new low as yet. Medium uptrend remains intact.
➤ Equities once again recovered the majority of losses to finish the day with positive momentum. If you read my post last week about the "Follow-Through" this is exactly what I meant. Despite the sharp drop and fear in the marketplace, there was no follow-through. Thus the signs point to a rebound higher and I'm now positioned that way with a moderate long position.
➤ As you know, I'm only talking about the very short-term i.e. a few days at the most. That is where I get most transparency and the reason why I operate in this space as a short-term Trader.
➤ The lower price gap in the S&P500 was immediately filled and now a higher gap has been left open. I'm hoping this will get filled in favour of my long position.
➤ Conclusion: With heightened volatility, you can throw a large amount of logic out of the door. Emotional responses are the main driver. Often this is no rational. Expect the unexpected.
NOTES: Tech continues to outperform. S&P500 has not made a new low as yet. Medium uptrend remains intact.
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✅ 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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