Higher Low? 9th Sep 2022

🖼 Daily Technical Picture 📈

➤ I like my lamb chops, pork chops...but I'm not so sure I liked the wild equity chop we experienced today. The volatile gyrations followed the news flow, it was some rollercoaster ride. The DAX probably best exemplified this with its manic 2% price swings.

➤ Despite all the yo-yo action, the S&P500 is holding above the support level and is looking to make a higher-low, keeping alive the uptrend from the June bottom.

➤ I continue to hold long DAX and EUSTX50 positions. My overall exposure remain at +80%. This is a moderate conviction level. The maximum exposure is +/- 200%, the level of highest conviction.

➤ Conclusion: Wild intra-day moves hasn't altered the daily picture. Still short-term bullish. As expected, equities displaying choppy behaviour.