⇄ Sideways...30th December 2022
🖼 Daily Technical Picture 📈
➤ Equities bounced nicely. S&P500 recovered above the support level. European indices bounced off the 50-day moving average.
➤ Sideways would be the appropriate term to sum up the price action for 2/3 of the year. If we look backwards to May, the S&P500 has not made any progress up or down. Price has oscillated around current levels by +/- 10%.
➤ It feels like we are in a holding pattern. The longer this pattern lasts, the larger the resulting directional move. We have no influence on that direction nor the timing. Only the Market can decide on the when and where.
➤ The Bulls could argue that despite all the negativity, the equity price has held up well. The Bears would argue that only one shoe has dropped, the other shoe is about to. Either way, next year will be intriguing.
➤ I currently hold a +68% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Intrigue is good, but making money is better. Let's do it together next year!
➤ Equities bounced nicely. S&P500 recovered above the support level. European indices bounced off the 50-day moving average.
➤ Sideways would be the appropriate term to sum up the price action for 2/3 of the year. If we look backwards to May, the S&P500 has not made any progress up or down. Price has oscillated around current levels by +/- 10%.
➤ It feels like we are in a holding pattern. The longer this pattern lasts, the larger the resulting directional move. We have no influence on that direction nor the timing. Only the Market can decide on the when and where.
➤ The Bulls could argue that despite all the negativity, the equity price has held up well. The Bears would argue that only one shoe has dropped, the other shoe is about to. Either way, next year will be intriguing.
➤ I currently hold a +68% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Intrigue is good, but making money is better. Let's do it together next year!
🏆 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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