Stalemate, 12 May 2023
🖼 Daily Technical Picture 📈
➤ Equities are trading in a range within a range within another range in varying timeframes. It’s a stalemate. After the stalemate comes the party. I’m getting my outfit ready. 👗
➤ Although equities are in a stalemate, other asset classes are not. GOLD looks to be in the early stages of breaking lower. EURUSD is already on the way down. I’m looking at this from a short-term trade opportunity.
➤ If you have seen my trading history you will notice plenty of flat spots where I am not involved in the equity market like now. Periods like this don't last very long.
➤ Conclusion: 🐆 Don't miss out on the Party! 🎉
EQUITY TREND:
⦿ Short-term (weeks) - NEUTRAL
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
➤ Equities are trading in a range within a range within another range in varying timeframes. It’s a stalemate. After the stalemate comes the party. I’m getting my outfit ready. 👗
➤ Although equities are in a stalemate, other asset classes are not. GOLD looks to be in the early stages of breaking lower. EURUSD is already on the way down. I’m looking at this from a short-term trade opportunity.
➤ If you have seen my trading history you will notice plenty of flat spots where I am not involved in the equity market like now. Periods like this don't last very long.
➤ Conclusion: 🐆 Don't miss out on the Party! 🎉
EQUITY TREND:
⦿ Short-term (weeks) - NEUTRAL
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
🏆 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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