mrstockyetoro

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ There was a lack of follow-through by the Bulls as prices retreated Thursday, giving up yesterday's gains. This may just be a pause in proceedings but with VIX moving into my panic zone once more, I'm inclined to take a bearish stance. ➤ If I'm right, I'm looking for prices to test the yearly low with a potential higher low or a...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Bears tried to push back the charging Bull and ended without success. Price bounced off the support line strongly. Clearly there are buyers at these levels. VIX contracted further. Is the panic over? ➤ I'm of the opinion that we may see the price rise a little more followed by a down move as a secondary test of the yearly low before...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ The United Nations (UN) is meant to save humanity from itself. I guess a floundering equity market does meet that remit especially with rumours of Credit Suisse troubles. Also, think of the millions of Baby Boomers who are retiring every day. They need to sell off their risky assets (i.e. equity portfolios) to buy safer alternatives...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Wallstreet pulled out the oldest trick in the trading book to start off a new month: a fake breakout. A breakout occurs when price confidently breaks through a support or resistance level and closes beyond that level. This is what occurred on 30th Sept to set a new yearly low for the S&P500. Once the price breaks out, it tends to...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ I was looking for market participants to do some window dressing on Friday to make a horrible September end on a positive note. Instead, we saw window selling. Ending with an exclamation mark to show how bad the month was for long only investors. It was a bad end for myself as well. I gave back pretty much all the profits from...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ The sequels just keep coming...prices are still stuck in the narrowish support and resistance levels for the S&P500. This time ending right at the support level in contrast to the previous day. If you get the feeling some one is trying to shake you out, that's exactly what it looks like. That being said, a break to the downside would...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Another hugely volatile day. Pre-market conditions were looking disastrous as US indices were south of 1% and European indices were down over 2%. A complete turnaround occurred as bond yields reversed lower. Bond yields have become unhinged and forced central banks to step in to try and control the situation. We should expect such...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ No prize for those of you who guessed the title of today's update. It's growing a bit tiresome. As in previous days, prices opened higher and ended lower. As suspected, with VIX moving higher, S&P500 set a new yearly low in the process but was able to close above the support level. ➤ This tiresome behaviour may bring about some...

mrstockyetoro

🖼 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...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Crucial week ahead for the Bulls to defend the yearly lows. First defensive effort was mounted by the Bulls to finish Friday trade away from the daily low. Price gapped down below the 2nd last level of support. The close of the candle points to continued bearish behaviour in the very short-term. ➤ VIX spiked over 30 again. There is...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ There's very little insight I can provide with the current price action. VIX is stuck at elevated levels and not moving anywhere. Price is moving lower to the support levels. If you weren't already in a short trade, it isn't the best place to start. If you are looking to buy, prices could continue to move lower. 🤷‍♀️ Risk to reward...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Equities decided break down but that's not what I'm concerned about. It's the VIX...has it literally broken down❓ 🛠 Apart from spiking to the panic level to 30 (as I define it), it did very little on a big down day. ➤ Perhaps VIX does make sense within the context of the price action. As prices have moved consistently lower, VIX has...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Prices held above the immediate lows but overall still drifting lower. It is stuck in between support and resistance zones. This is fitting behaviour given the USD Fed Interest Rate decision on Wednesday afternoon. ➤ VIX is not giving much away. Still trading below the recent peak but at elevated levels. ➤ Market makers and...

mrstockyetoro

🖼 Daily Technical Picture 📈 📉 GAPs are unfashionable and it tends to get closed. Well, that gap has almost closed and I'm not FEELING great! ➤ Big reversal in markets as equities bounced after once again gapping lower at open. Price is heading back to the support level (that should be re-labeled as resistance). ➤ I had strong convictions that the gap will be...

mrstockyetoro

🖼 Daily Technical Picture 📈 📉 GAPs are unfashionable and it tends to get closed. I’m not talking about the retail clothing store. ➤ A large price gap is caused when there is a substantial difference between the closing price on the previous trading day and the opening price on the following day. This occurs in markets that don't trade around the clock like...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Price again held in the support zone with VIX also contracting from the short-term peak. I'm looking at this as a reply of mid-May. The difference is that VIX was in the panic zone back in May and the move down prior to the bounce was much longer in duration. Maybe I should call it a "mini-mid-May" - MMM. If I am correct I hope the...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ Same working title as yesterday. Prices are still at square one. There was hardly any bounce but prices managed to hold support. The market is not giving much away about its next move... ➤ I have closed the long positions in DAX and EUSTX50 (STOXX50) and have reversed to a small short position (-10% exposure each). This small...

mrstockyetoro

🖼 Daily Technical Picture 📈 ➤ A momentous day in markets, momentous to do downside that is. All the up momentum was snuffed out today. Prices in S&P500 have dropped back to the support level. As I previously mentioned, there were subtle hints of a drop. The big surprise is the degree of the drop we just experienced. ➤ The only good news is that prices have hit...