1 Day Later, 29th November 2022

🖼 Daily Technical Picture 📈

➤ Well I did say a reversal in equity prices was imminent...and here we are 1 day later. VIX jumped higher. I have flipped my positions by 180°.

➤ We need to be cautious here. False short signals happen often in a strong up-trending market. Strong momentum can easily flip us back into a Bullish mode. We could also be just moving into a short-term consolidation phase where prices trade more or less sideways.

➤ I feel that I've been chasing my tail this month. My trade signals have proven to have caught the noise. I've been whipsawed out of positions by a large reversal bar that turned hard fought profitable positions to instant losses. The best example being the 10th and now 28th. Although unpalatable, I do expect to go through these conditions throughout the year.

➤ I flipped my positions to -51% short exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.

➤ Conclusion: Let's see how prices react at the strong support levels just below.