SPX500 Great news on employment during Christmas?? SHORT
Hi everyone interested,
As you know from my previous analysis I am bearish on the market despite the fact employment figures went up during Christmas :D
I have closed my short trade on Friday to re-open today as we have approached the resistance zone and if not broken I bet we hit 3500 support. Zooming out to daily we are in a downtrend towards the Monthly uptrend line (close to 3000)
I have taken into consideration common sense with knowledge of the many sectors experiencing demand problems, 2023 is recession year, people earn less, everyone is careful what they spent money for, Christmas time was for many retailers time to make money but did it really happen?
Anyway, this is my personal opinion and not a trading advise, one more thing:
if trading do make sure you have a s/l that won't ruin you :) don't risk more than 2-5% of your capital
As you know from my previous analysis I am bearish on the market despite the fact employment figures went up during Christmas :D
I have closed my short trade on Friday to re-open today as we have approached the resistance zone and if not broken I bet we hit 3500 support. Zooming out to daily we are in a downtrend towards the Monthly uptrend line (close to 3000)
I have taken into consideration common sense with knowledge of the many sectors experiencing demand problems, 2023 is recession year, people earn less, everyone is careful what they spent money for, Christmas time was for many retailers time to make money but did it really happen?
Anyway, this is my personal opinion and not a trading advise, one more thing:
if trading do make sure you have a s/l that won't ruin you :) don't risk more than 2-5% of your capital
Trade closed: stop reached