Getting ready to short Stoxx 50

[Master Pu]

 

[maxinger]

I presume you are doing swing trading.

The European market is rather bullish.

look at CAC40. It keeps on breaking record high.

 

[Darc]

Whats the rational please @Master Pu ?

 

[Master Pu]

Whats the rational please @Master Pu ?

Proximity to ATH with a weakening upside, divergence with MACD. Similar situation in DAX. We are also getting towards the possible intermittent top in SPX and NDX. But I find Stoxx 50 setup sweeter as far as risk/reward is concerned. I am not in the trade yet, I believe there is another upward move brewing.

 

[Master Pu]

I presume you are doing swing trading.

The European market is rather bullish.

look at CAC40. It keeps on breaking record high.

Price action in CAC is also weakening, I am aware that it has popped through ATH. I don't look at any one index for an indication of the future direction of other indexes though.

It is apparent that we are now in an overall uptrend, so any downside target will be closely monitored for signs of reversal.

 

[Master Pu]

US earnings coming to an end soon, so until then, there may not be a strong sell signal present.

 

[Master Pu]

NDX has to put in a top near the 50% of the current range first.

 

[maxinger]

NDX has to put in a top near the 50% of the current range first.

View attachment 314302

NQ has been on the uptrend since Jan 2023.
Then Q is how high will it go?
No idea.

FESX has been on the uptrend since Oct 2022.

 

[Master Pu]

NQ has been on the uptrend since Jan 2023.
Then Q is how high will it go?
No idea.

FESX has been on the uptrend since Oct 2022.

No idea how high NDX will climb by EOY, but the next pit stop seems to be quite apparent to me.

 

[SunTrader]

Keeps on breaking record high? Not lately.

CAC40 index today made the 2nd lowest close of the last 18 trading day:-