Chop Chop, 25 Mar 2023

24 мар. 2023 г.🖼 Daily Technical Picture 📈

➤ The week ended positively for equities with brisk late buying on Friday trade. The exact opposite of the late strong sell-off on Wednesday just on a smaller scale. That sell-off remains the dominant feature.

➤ With the exception of Tech and perhaps day trading, it was pretty choppy everywhere else for generating returns. Somewhat like being swirled around in the washing machine not knowing where we will end up. At this juncture, one could come to the conclusion that despite all the hoo-ha about impending disaster it was just pure fear mongering built up with social media...at least in the very short term.

➤ I'm not too upset to have been left out of the action this week. I think any trade would have been chopped up and spat out. I'm looking forward to next week as the price action is evolving into a structure that is recognisable.

➤ Conclusion: Let's hope we don't get the same choppy conditions next week. Have a great weekend!

EQUITY TREND:

⦿ Short-term (weeks) - DOWN
⦿ Medium-term (< 6 months) - UP
⦿ Long-term (>6 months) - DOWN