Morning Note 26.08.24
Inside Day
Current Market Conditions:
How did the indices act friday?
SPY and QQQ had an inside day, meaning the opened and closed within the bearish engulfing candle from thursday.
IWM and MID on the other hand exploded higher.
What are the main trends right now?
Strong equity recovery after scary VIX spike
Bonds are trending up
Gold is in an Uptrend
Stocks have left their uptrend, but also saved themselves from a Downtrend
Medium term, defensive sectors still have the edge
Daily Chop, Equities are not respecting support or resistance very much.
Small Caps beginning to outperform again
Whats the Current Risk Appetite in Markets?
→ Low to Medium, depending on how the inside day gets resolved.
What is my positioning, based on what I know about the markets:
100% in a EUR Money Market Fund. Got rid of all positions.
Trades taken
None.
Setups In Scope:
ANET - One of the premier leading stocks in the past couple of years. It gives a buy trigger above 358.23
FSLR - Might trigger a buy signal around 235.
