The Last Defence II, 27th Sep 2022
🖼 Daily Technical Picture 📈
➤ Bulls are being tested for the second day. This time, prices were not supported at higher levels and finished the trading day near the lows. VIX leapt higher again. Things are looking pretty ominous.
➤ I don't know if it's good news or bad news but the daily trading volume is moderate. Although elevated it hasn't really spiked. A spike could signal big players absorbing the selling especially if prices didn't move much on the day. On the other hand, no spike could signal the sellers are not done selling.
➤ My exposure is currently 0% with no positions. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I can see potential buying opportunities but I am waiting to for some sort of VIX contraction.
➤ Bulls are being tested for the second day. This time, prices were not supported at higher levels and finished the trading day near the lows. VIX leapt higher again. Things are looking pretty ominous.
➤ I don't know if it's good news or bad news but the daily trading volume is moderate. Although elevated it hasn't really spiked. A spike could signal big players absorbing the selling especially if prices didn't move much on the day. On the other hand, no spike could signal the sellers are not done selling.
➤ My exposure is currently 0% with no positions. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I can see potential buying opportunities but I am waiting to for some sort of VIX contraction.
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Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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