Tradercockpit 5 days S&P 500 indicator ( something has to give…)
Last night , we took a small punt on EURUSD , given what looked like an oversold situation. The Tradercockpit indicators this morning show an oversold level, but have no sign of turn around yet, so I used the punch above 1.2910, the pivot point, to turn the position and go short again. It looks like this consolidation might last longer than we thought. The indicators on equities are still long term positive, but the medium term ones could become negative quickly, something that surprised us given the amount of liquidity thrown at the markets. The risk reward ration is turning to the downside.