A Nose Hair Away, 17 May 2023

🖼 Daily Technical Picture 📈

➤ S&P500 showed further signs of weakness. Can you guess which stocks prevented the true weakness from showing? We were a nose hair away from triggering a Short trade. In fact I had the order page ready on all my trading platforms. Perhaps we need to wait another day.

➤ To be truthful, I'm glad we haven't been in any trades these past week or so. If a trade(s) had triggered, we would have been chopped to pieces. This may be due to pure luck on our part but I'd like to think that my Strategy didn't trigger those trades to avoid this potential.

➤ It's a totally different story when it comes to individual stock trading. Here trade potential is vast. This is one of the benefits over index trading. Even with my short-list of just 33 stocks divided by the main sectors of the S&P500, I have found plenty of trades.

➤ Conclusion: 🐆 I can smell a Trade coming.