SPDR S&P 500 ETF TRUST

Beginning of the End, 18th January 2023

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🖼 Daily Technical Picture 📈

➤ OK, I'm being over-dramatic with the title of today's note. It actually was a pretty dull day of trading. NASDAQ continues to outperform the Blue Chip indices showing that overall risk-on behaviour is still prevalent.

➤ VIX did bounce higher back into the pink zone. Is this the start of something bearish? It's ambigious. The price action in the S&P500 was not meaningful other than to say there was some profit-taking. With earnings season starting, prices may be jumpy too.

➤ I have closed my long positions and now hold no positions.

➤ Conclusion: Dull action leads to more intense action. Looking forward to it.

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