Chop Chop, 18th October 2022
🖼 Daily Technical Picture 📈
➤ Prices did at U-turn (again) and reversed all of Friday's losses with Financials/Banks leading the way. We are back in a ranging market with this yo-yo type action. Prices may attempt to move higher to the top of the larger range if VIX continues to contract.
➤ I took profits on my European long positions as exit signals were given by my Strategy. I added a small long position in S&P500.
➤ I'm long with +20% exposure. I may add more US exposure if prices weaken. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I don't know when the chop will stop. It can be a tricky environment to trade especially with such large daily moves.
➤ Prices did at U-turn (again) and reversed all of Friday's losses with Financials/Banks leading the way. We are back in a ranging market with this yo-yo type action. Prices may attempt to move higher to the top of the larger range if VIX continues to contract.
➤ I took profits on my European long positions as exit signals were given by my Strategy. I added a small long position in S&P500.
➤ I'm long with +20% exposure. I may add more US exposure if prices weaken. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I don't know when the chop will stop. It can be a tricky environment to trade especially with such large daily moves.
🏆 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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