🖼 Daily Technical Picture 📈
➤ From sitting pretty to pretty ugly. Today's price action has upended the bullish thesis that I was building. However, one ugly day doesn't mean things will now completely reverse. We need two days...OK, I'm just kidding. But on a serious note, the balance of power between the Bulls and Bears have seriously swung towards the Bears.
➤ In after-hours, GOOGL and MSFT stock are being heavily supported post earnings release. Let's see if this can hold up on Wednesday in particular at a broader market/index level. Note that AMZN and META also release earnings this week Wed/Thu (but after market close).
➤ Clearly, the Regional Bank crisis is on-going with FRC in the spotlight. This may re-spark conditions that was experienced during the SVB phase of the crisis.
➤ I got a very short-term buy signal and that was executed dutifully. I am now moderately long and looking for a quick bounce.
➤ Conclusion: 🐆 Pounced. A successful or failed hunt? We will know soon.
EQUITY TREND:
⦿ Short-term (weeks) - UP
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN
➤ From sitting pretty to pretty ugly. Today's price action has upended the bullish thesis that I was building. However, one ugly day doesn't mean things will now completely reverse. We need two days...OK, I'm just kidding. But on a serious note, the balance of power between the Bulls and Bears have seriously swung towards the Bears.
➤ In after-hours, GOOGL and MSFT stock are being heavily supported post earnings release. Let's see if this can hold up on Wednesday in particular at a broader market/index level. Note that AMZN and META also release earnings this week Wed/Thu (but after market close).
➤ Clearly, the Regional Bank crisis is on-going with FRC in the spotlight. This may re-spark conditions that was experienced during the SVB phase of the crisis.
➤ I got a very short-term buy signal and that was executed dutifully. I am now moderately long and looking for a quick bounce.
➤ Conclusion: 🐆 Pounced. A successful or failed hunt? We will know soon.
EQUITY TREND:
⦿ Short-term (weeks) - UP
⦿ 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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
🏆 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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.