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
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.