End of the End, 16 May 2023
🖼 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
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