Pausing
➤ S&P500 sold-off on Friday. This can be attributed to poor data out of Europe and also profit-taking prior to weekend (about time!)
➤ My exposure remains at -50%. That means we are short the market using half of our capital. This is low-moderate conviction. The maximum is +/- 200%, the level of highest conviction.
➤ Friday price action saved our shorts from being stopped out. It was a close shave. At the moment, I only see this as a pause in the bull-run. Prices are "trapped" in the pink zone of indecision. There are defined resistance and support lines. The zone is narrow. Prices can still easily move up. I need to see a big move in the VIX to the upside to instil confidence that the Bears have taken control.
➤ Conclusion: Price moving below the pink zone should see Bulls lose confidence.
➤ My exposure remains at -50%. That means we are short the market using half of our capital. This is low-moderate conviction. The maximum is +/- 200%, the level of highest conviction.
➤ Friday price action saved our shorts from being stopped out. It was a close shave. At the moment, I only see this as a pause in the bull-run. Prices are "trapped" in the pink zone of indecision. There are defined resistance and support lines. The zone is narrow. Prices can still easily move up. I need to see a big move in the VIX to the upside to instil confidence that the Bears have taken control.
➤ Conclusion: Price moving below the pink zone should see Bulls lose confidence.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
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✅ 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.