Re-testing Time? 12th Sep 2022

🖼 Daily Technical Picture 📈

➤ Equity markets continued to bounce and bounce hard from the support level. It is looking very orderly, VIX is dipping in concert. It is seeking to re-test the 4200 level once again.

➤ It is unclear to me if prices will take a detour prior to the re-test in terms of a short-term reversal or the Bears are happy to wait to apply pressure only at the key resistance level.

➤ I halved my DAX and EUSTX50 positions. My overall exposure is +40%. This is a low conviction level. The maximum exposure is +/- 200%, the level of highest conviction.

➤ Conclusion: Bulls in control. Re-test imminent. Will the Bears re-assert themselves and break the confidence of the Bulls?