🖼 Daily Technical Picture 📈
➤ Daily range of the S&P500 is coiling tighter together, forming a symmetrical triangle pattern (▶︎). Can you see it? That means price is about to make a move. It's the end of the end.
➤ Symmetrical triangles are symmetrical for one reason, the price movement out of the triangle is a 50/50 toss of a coin, up or down. There is no edge to be obtained from guessing which direction it will go.
➤ So relax like I have been by chewing on some good ol' bamboo and wait for price to resolve itself. That is when the action starts.
➤ Conclusion: 🐆 Enter the beginning of the beginning.
P.S. For those of you following my Live Paper Testing (trading of individual stocks and multi-asset classes), take note that I'm shorting quite a number of stocks. Despite the market moving higher today most of those stocks fell. This reflects the funny market where a handful of mega tech stocks are holding up the index.
➤ Daily range of the S&P500 is coiling tighter together, forming a symmetrical triangle pattern (▶︎). Can you see it? That means price is about to make a move. It's the end of the end.
➤ Symmetrical triangles are symmetrical for one reason, the price movement out of the triangle is a 50/50 toss of a coin, up or down. There is no edge to be obtained from guessing which direction it will go.
➤ So relax like I have been by chewing on some good ol' bamboo and wait for price to resolve itself. That is when the action starts.
➤ Conclusion: 🐆 Enter the beginning of the beginning.
P.S. For those of you following my Live Paper Testing (trading of individual stocks and multi-asset classes), take note that I'm shorting quite a number of stocks. Despite the market moving higher today most of those stocks fell. This reflects the funny market where a handful of mega tech stocks are holding up the index.
🏆 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.
🏆 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.