Who Blinks First? 19 Apr 2023
🖼 Daily Technical Picture 📈
➤ Equities ended slightly higher at the lower end of today's trading range. It was another one of those days that meant little by itself yet a story is unfolding within the context of a string of these days.
➤ When prices leapt higher from the March low, we saw the aggressive acceleration with large-sized daily moves and price gaps from day to day. A sign of excitement and enthusiasm. In recent days, we see the complete contrast with hesitative small daily moves creeping higher each day.
➤ With my best "tape" reading glasses on, I still cannot decipher which binary outcome it will be: Re-acceleration upwards explained by an upward accumulation phase or a Bearish trend reversal explained by the tiring progress into key resistance levels. Only one outcome can be true.
➤ I remain long with a small position.
➤ Conclusion: 🐆 Who will blink first?
EQUITY TREND:
⦿ Short-term (weeks) - UP
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
➤ Equities ended slightly higher at the lower end of today's trading range. It was another one of those days that meant little by itself yet a story is unfolding within the context of a string of these days.
➤ When prices leapt higher from the March low, we saw the aggressive acceleration with large-sized daily moves and price gaps from day to day. A sign of excitement and enthusiasm. In recent days, we see the complete contrast with hesitative small daily moves creeping higher each day.
➤ With my best "tape" reading glasses on, I still cannot decipher which binary outcome it will be: Re-acceleration upwards explained by an upward accumulation phase or a Bearish trend reversal explained by the tiring progress into key resistance levels. Only one outcome can be true.
➤ I remain long with a small position.
➤ Conclusion: 🐆 Who will blink first?
EQUITY TREND:
⦿ Short-term (weeks) - UP
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
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✅ 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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